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AnswerRamesh purchased a machine costing Rs. 60.000 under hire purchase system. He paidRs. 20.000 as down payment and the remaining in two instalments yearly with 10% interestWrite the journal entries in the books of the buyer.pls answer me quickly |
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Answer» Answer: Machine a/c.dr.60000 to INSTALLMENT a/c 40000 1st installment a/c dr.44000 to cash a/c. 40000 2nd installment a/c dr.44000 to 10%interest a/c 4000 to cash a/c. 40000 |
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