In the books of Vandana Ltd. the machinery account showed a debit balance of Rs.1,20,000 as on 1 st April ,2019 and Provision for depreciation account at Rs.24,000. The Machinery was sold on Dec 31, 2019 for Rs.56,000. The company charges depreciation @ 20% p.a. on Straight Line Method. Profit or Loss on sale of the Machinery is Rs
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