A cimpany purchased second hand machinery
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ABC Ltd. acquires a machine on 1st July, 2007 at a cost of Rs. 2, 80,000 and spent Rs. 20,000 on its installation. The firm writes off depreciation at 10% of the original cost every year. The books are closed on 31st December every year. Prepare machinery A/c for 3 years.
(Depreciation A/c Dr.
To Asset A/c)
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