`{:("Following balances appear in the books of Pyriyank Brothers: ",₹),("1st April, 2017 " "Machinery A/c","20,00,000"),(" Provision for Depreciation A/c","8,00,000"):}`
On 1st April, 2017, they decide to sell a machine for Rs 5,00,000. This machine was purchased for Rs 7,50,000 on 1st April, 2014. Prepare the Machinery Account and Provision for Depreciation Account for the year ended 31st March, 2018 assuming that the firm has been charging Depreciation `"@ "10%` p.a. on the Straight Line Method.