Clinton maintains his books of accounts on calendar year basis. He purchased on 1-1-2014 a machine for Rs. 40,000. He purchased another machine on 14 October 2014 for Rs. 20,000 and on 1 July 2015 for Rs. 10,000. On 1st July, 2016, one fourth of the machine installed on 1st Jan, 2014 became obsolete and was sold for Rs. 6,800. Show how the machinery account will appear in the books of Clinton for all the three years under fixed installment method. Depreciation is to be charged at 10% per annum. Re 700 Bala 2017 Rs 45.000​