On 1 March 2019, the beginning of the financial year, PRO COURIER SERVICES opened its business and the owner Ms P. Ro purchased three new KIA Workhorse Vans (vehicles), each with a cost price of a cost price of R350 000.

The accumulated depreciation on the three KIA Workhorse Vans amounted to R420 000 on 1 March 2021.

Depreciation on all vehicles is calculated at 20% per annum using the straight-line method.

On the 31st of November 2021 one of the KIA Workhorse Vans was sold for R150 000 cash. On the same day (31st of November 2021) two Ford Transit Vans were purchased cash, each with a cost price of R400 000. A residual value of R20 000 is placed on each of the Ford Transit Vans.

YOU ARE REQUIRED TO:

• Disclose the following accounts in the general ledger.

• Vehicles

• Accumulated depreciation: Vehicles

• Depreciation

• Realization account

• Profit or loss on sale of asset account

• Bank