transactions correctly. (20 marks (b) Eric Enterprise purchased a machine and a building which cost RM345,000 and RM600,000 respectively on 1st March 2017. The additional expenses incurred for both assets are as follows: RM1,800 for transportation and freight cost, RM800 for insurance against damage for the machine, RM300 customs duty, RM900 for survey fees, RM2,500 for installation and RM15,000 for architect's fees. The company uses straight line method for the depreciation of both assets. Assume that the machine can be used for 10 years and the residual value is estimated to be RM150,000 while building is depreciated at a rate of 15% per annum. The company's financial year ends on 31st December each year. The machine was sold off for RM220,000 on 31st December 2019 and the money was deposited into business bank account. Prepare the journal entries for the machine disposed. (5 marks) [Total : 25 marks]