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#8 Question of the day (Accounts)
Accountancy
M/s. Dayal Transport Company purchased 10 trucks @ Rs. 50,00,000 each on 1st July 2017. On 1st October, 2019, one of the trucks is involved in an accident and is completely destroyed and Rs. 35,00,000 is received from the insurance in full settlement. On the same date, another truck is purchased by the company for the sum of Rs. 60,00,000. The company writes off 20% of the original cost per annum. The company observes the calendar year as its financial year. Give the motor truck account for two years ending 31st December, 2020
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