Question 2 Sunshine Company started business selling clothes on 20 June 2017. For the business operate smoothly, fixed asset such asset machine were bought to use in the production. On 1 October 2017, Sunshine Company bought three machines at the price of RM20,000 each. On 31 July 2019, one of the machines was sold on credit to Twinkle Enterprise at RM13,200. In the year 2020, a few transactions have occurred: Date March 1 Transactions One of the machines was exchange with a new machine from Moonlight Enterprise. Cost of the new machine was RM55,200 and Sunshine Company will make a payment 75% which is the payment of RM10,000 using cheque and the balance is cleared by loan. April 30 To increase the production, Sunshine Company purchase a new machine at RM35,500 by cheque. To make the machine more usable, repair expenses of RM1,500 and RM5,250 for machine accessory was paid by cash The useful life for the machine was 5 years. Sunshine Company decided accounting period ended 30 June every year. You are required to: 1) Prepare calculation of depreciation for machines. 2) Prepare these accounts by the year ended 30 June 2020 a) Machine Account b) Accumulated Depreciation Account c) Disposal Account