Complete the following notes to the financial statements
Old equipment with a cost price of R80000 was sold for cash on 31 August 2013 forR45000.on 1 march2013 the accumulated depreciation on this equipment amounted to R33920. New equipment of R90000 was purchased on credit on the same day. Depricaition is written off at 20% per annum on the diminishimg balance method

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