ASSETS TRADED$-$IN

INFORMATION

On $1$ March $2020,$ the following balances appeared in the financial records of Norway Traders:

Vehicles, R $264000$

Accumulated depreciation on vehicles $,$ R$86000$

The following transactions took place on $1$ October $2020$:

A new delivery vehicle was purchased on credit for R$150000$ from Raboroko Motors.

An old delivery vehicle was traded in at Raboroko Motors for R$51000.$ The original cost price of thi vehicle was R$84000,$ it was bought on $1$ January $2018.$

Note: Depreciation is calculated at $15\%$ p$.$a$.$using the cost price.

REQUIRED

Complete the following Accounts in the General Ledger of Norway Traders on $28$ February $2021$:

Equipment Account

Accumulated depreciation

Asset Disposal