Question - 24 

A machine was purchased on 1st October 1998 at a cost of Rs. 1,20,000 and Rs. 8,000 were spent on its installment the depreciation is written off at 10% p.a. on the reducing balance method the books are closed on 31st Dec. every year the machine was sold for Rs. 52,000 on 1st July 2001
Prepare mahcinery account and provision for depreciation account for all the years.