29. The following balances appear in the books of Y Ltd.:

Machinery A/c as on 1-4-2022 ₹8,00,000

Provision for Depreciation A/c as on 1-4-2022 ₹3,10,000

On 1-7-2022, a machinery which was purchased on 1-4-2019 for ₹1,20,000 was sold for ₹50,000 and on the same date another machinery was purchased for ₹3,20,000.

The firm has been charging depreciation at 15%o p.a. on Original Cost Method and closes its books on 31st March every year. Prepare the Machinery A/c and Provision for Depreciation A/c for the year ending 31st March 2023.