• All the motor vans were purchased on 1 April 2018. Depreciation has been, and is to be, provided at the rate of 20% per annum on cost from the date of purchase to the date of sale. On 31 March 2021, one van, which had cost KES 900,000, was sold for KES 550,000 as part settlement of the price of KES 800,000 of a new van, but no entries with regard to these transactions were made in the books.