A Transport company purchased two Motor cars each costing Rs. 2,70,000 on 1-7-87. On 1-1-90 a Car was completely destroyed by accident and the insurance company paid compensation of Rs. 1,62,000. On the same date another car was purchased for Rs. 3,00,000. Depreciation on Original cost @ 20% was charged. Accounts were closed by 31st March every year. Prepare Motor Car a/c upto 31-3-91
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