3. Chandra Ltd. purchased a second-hand machine for 8,000 plus CGST and SGST @6% each on 1st July, 2015. They spent 3,500 on its overhaul and installation. Depreciation is written off 10% p.a. on the original cost. On 30th September, 2018, the machine was found to be unsuitable and sold for 6,500. Prepare the Machinery A/c for four years assuming that accounts are closed on 31st March. [Ans. Loss on sale of Machine 1,262.]