James Mark, owner of Constant Rides started the business on 1 July 2016. At the start of the business, he had land and buildings to the value of R250 000 and purchased three vehicles at R60 000 each. Constant Rides did not buy or sell any vehicles during the first three financial years. The accumulated depreciation on vehicles as at 1 July 2019 was R104 062.50. Depreciation on vehicles is calculated at 25% p.a. on the diminishing balance method. The following applies to the financial year ended 30 June 2020. On 1 December 2019 Constant Rides sold one vehicle for R20 000 on credit. The vehicle was purchased on 1 July 2016. The vehicle is depreciated at the rate of 25% p.a. on the diminishing balance method. Required: Prepare the following general ledger accounts for the year ended 30 June 2020. Round to two decimals.

Asset Disposal Properly balance/close off this account. Accumulated Depreciation: Vehicles Properly balance/close off this account. Vehicles You are not required to balance/close off this account.

Use the below to complete the question

Asset Disposal Date Details Fol Amount Date Details Fol Amount Workings Accumulated depreciation: Vehicles Date Details Fol Amount Date Details Fol Amount Amount Workings Vehicles Date Details Fol Amount Date Details Fol Amount