Eaknath Co. purchased machinery for Rs 6,70,000 and spent Rs 3,000 on freight and Rs 27,000 on its installment on 1st april, 2016. Depreciation was charged @ 10% p.a. on Reducing Balance Method. Machinery purchased in 2016 was sold on 1.2.2019 for Rs 5,50,000.
Prepare machinery account for three accounting years which are closed on 31st March every year.
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