The following balances appear in the books of Satish Bros. on 1st April, 2022:
Accumulated Depreciation Account
On 1st April, 2022, they decided to dispose off a machinery for ₹ 8,000 which was purchased on 1st April, 2019 for ₹ 20,000. Prepare Machinery Account and Accumulated Depreciation Account for 2022-23. Depreciation was charged @ 10% p.a. on written Down Value basis.