On 1.1.2016, balance of Machinery Account was Rs. 48,600. On 1.7.2016, a new machine was purchased for Rs. 24,000, installation cost Rs. 1,000. On 1.9.2016, machinery was sold for Rs. 6,000. The original cost of the machine sold was Rs. 10,000 on 1.1.2014. Machinery is depreciated at 10% p.a. under the diminishing balance method. Show Machinery Account for the year 2016. The books are closed on 31st December every year.

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