Depreciation at 20% on the diminishing balance basis was accumulated in Provision for Depreciation Account. On January 1st1991 machine 2 was damaged and had to be replaced by a new machine costing Shs. 75,000. It was expected that machine 2 will fetch Shs. 3,300 but was insured and an insurance claim for Shs. 37,200 was admitted by the insurers.
Show, for the year ended 31stMarch 1991, the Machinery account, Provision for depreciation account, and Machinery disposal account.