Q # 1

Rafan Manufacturing Company traded in an old machine for a new one. The old machine had cost Rs. 200,000 and accumulated depreciation amounted to Rs. 125,000. The cost price of the new machine was Rs. 280,000. Uni-Pakistan received a Rs. 35,000 trade-in allowance for the old machine.

Required:

Pass a compound journal entry to record above transaction. Entry without computation will not be accepted

pleas do this questiion in hand writting