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On 1st October 2017, Ali purchased machinery for Rs. 100,000. Depreciation is to be provided for at 15% on straight line method each year. On

On 1st October 2017, Ali purchased machinery for Rs. 100,000. Depreciation is to be provided for at 15% on straight line method each year. On 31st July, 2020 machinery was sold for Rs. 20,000 as that become useless. On the same date he purchased a new machinery for Rs. 50,000. Prepare machinery account from 2017 to 2022. Accounts are closed on 31st December every year.

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