Question

bakshi bros acquired machine on hire purchase rs 6000 was payable on delivery of the machine i.e on January 2002 and the balnce by four annual installment of ₹6000 each payable at the end of each year interest is charged @ 20% p.a. and is included in the annual installment of ₹ 6000 show hire vendor's account and machinery account in the books of purchaser who defaulted in the payment of third installment where upon the hire vendor repossessed the machinery the hire purchaser charges depreciation on the machinery at 10% p.a​

Answer 1

Explanation:

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