X purchased a machinery on 1st January 2017 for Rs. 9,60,000 and spent Rs. 40,000 on it's installation. On 1st July 2017 another machinery costing Rs. 4,00,000 was purchased. On 1st July 2018 the Machinery purchased on 1st January 2017 having become scrapped was sold for Rs. 5,80,000 and on the same day new machinery was purchased for Rs. 10,00,000. Depreciation is provided annually on 31st December every year at the rate of 10% p.a. on WDV basis. Prepare machinery account and Provision for depreciation account for the years 2017 and 2018
