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Lulu Hypermarket LLC bought two Toyota delivery trucks for RO 20,000 in Jan 2018. The useful life of the trucks is 5 years. The company

Lulu Hypermarket LLC bought two Toyota delivery trucks for RO 20,000 in Jan 2018. The useful life of the trucks is 5 years. The company provides depreciation @20% using Declining balance method. On 30 June 2021, one of the trucks met an accident and had to be sold for RO 3000. Draw the Trucks Assets account and the Accumulated depreciation account for the four years and show the Profit /loss on sale of Truck to be transferred to the Income statement

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