On 1st April, 2021, Machinery Account of Karan shows a balance of ₹ 96,000 (original cost ₹ 1,20,000). On 1st August, 2021, a machine for ₹ 60,000 was purchased and ₹ 9,000 were incurred for its freight and installation

On 1st April, 2021, Machinery Account of Karan shows a balance of ₹ 96,000 (original cost ₹ 1,20,000). On 1st August, 2021, a machine for ₹ 60,000 was purchased and ₹ 9,000 were incurred for its freight and installation. On 1st Septemeber, 2022, another new machine was purchased for ₹ 50,000 by cheque, but the machine started functioning on 1st November, 2022.

Depreciation was charged @ 10% p.a. by the Straight Line Method. Give the necessary entries in the books of Karan and show Machinery Account for two years ended 31st March, 2022 and 2023.