Question

Complete Repossession
He depreciates the asset at 10% per annum on written down value method.
Because of financial difficulties, Mr. A after having paid down payment and so
took possession of the asset
Open ledge account in the books of both parties to record the transactions.
8. Mr. A purchased a machine from B Ltd. for Rs. 5,60,000; payment to be made
Rs. 1.50,000 down and three instalments of Rs. 1.50,000 each at the end of each you
instalment at the end of the first year, could not pay second instalment and the sile​

Answer 1

Answer:

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