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Exercise-6: A business includes $110,000 worth of machinery at cost in its accounts. Its policy is to depreciate plant and machinery at 20% per annum
Exercise-6: A business includes $110,000 worth of machinery at cost in its accounts. Its policy is to depreciate plant and machinery at 20% per annum straight line. The total accumulated depreciation now stands at $70,000. The business sells for $19,000 a machine which it purchased exactly 2 years ago for $30,000 Show the relevant ledger entries
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