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On jan 1st 2016 xltd. Purchased a maruti Alto 800 from the entel pvt. Ltd on a hire purchase system. The agreed cash selling price was Rs 120000and and total addition for interest of Rs 18000 at the time of agreement a sum of rs is 30000 was paid of out of the price of the car and balance was payable in 3 equal installment together with interest @10%p.a.you require to show xltd . Accounts interest suspense account, H. P sales account and also Balance sheet of 2016 |
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