Question

Bombay Okara Corporation Ltd. Purchased on January 2015 from Delhi Motors five trucks costing Rs. 50,000 each on the hire purchase system. The payment was to be made as 10% of cash price down and 25% of cash price at the end of four subsequent half years. The payment due on 31 December 2015 could not he made and hence the trucks were by the vendor

But after negotiation, the hire purchaser was allowed to keep three trucks on the condition that the value of the other two trucks would be adjusted against the amount due, the truck being valued at cost less 25% depreciation. Bombay Corporation closed its books on 30 June

every year and the depreciation is charged at 15% puu on the original cost. The vendor spent Rs. 10.000 on getting the trucks thoroughly overhauled and sold them for Rs. 90,000.

Show the various accounts in the​

Answer 1

Answer:

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