Journalize the following transaction in the books of Keyur: (a) Started business with Cash ? 200,000 and Stock ? 1,00,000 in his hair portion of the personal Building (total value of the Building ? 2000000 (b) Purchased machinery from New Machinery House for 7 50,000 and paid it by means of a Bank draft purchased from Bank. Paid bank charges 500 (c) Goods of 20,000 were damaged due to accident and insurance company had accepted the claim to an extent of 75%. The insurance company now settled the claim in cash, (d) Depreciate building and machinery by 10%
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depreciate building and machinery by 10%
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