`{:("Following balances appear in the books of Rama Bros ",₹),("1st April, 2016 " "Machinery A/c","80,000"),(" Provision for Depreciation A/c","36,000"):}`
On 1st April, 2016, they decided to sell a machine for Rs 8,700. This machine was purchased for RS 16,000 in April, 2012. Prepare the Provision for Depreciation Account and Machinery Account on 31st March, 2017, assuming the firm has been charging Depreciation at 10% p.a. on Straight Line Method.