A company purchased a second-hand machine on 1st January, 1983, for Rs. 30,000 and immediately spent Rs.
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A company purchased a second-hand machine on 1st January, 1983, for Rs. 30,000 and immediately spent Rs. 4,000 on its repair and Rs. 1,000 on its installation. On July 1, 1985, the machine was sold for Rs. 25,000. Prepare machine account after charging depreciation @ 10% per annum by diminishing balance method.
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