Due to financial difficulties raja could not pay any installment after first installment and selling company took possession of the asset the selling company after spending 1,500in repairs it sold aways the asset for 38,000prepare necessary ledger accounts in the books of both tha panties
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This discussion on Raja purchased an asset under hire purchase system for ` 60,000 payments to be made ` 15,000 down and three installments of ` 18,000 each at the end of each year. Rate of interest is 10% p.a. Raja depreciates asset @ 10% p.a. on diminishing balance method. Due to financial difficulties Raja could not pay any installment after first installment and selling company took possession of the asset. The selling company after spending` 1,500 on repairs it sold away the asset for ` 38,000. ? is done on EduRev Study Group by B Com Students. The Questions and Answers of Raja purchased an asset under hire purchase system for ` 60,000 payments to be made ` 15,000 down and three installments of ` 18,000 each at the end of each year. Rate of interest is 10% p.a. Raja depreciates asset @ 10% p.a. on diminishing balance method. Due to financial difficulties Raja could not pay any installment after first installment and selling company took possession of the asset. The selling company after spending` 1,500 on repairs it sold away the asset for ` 38,000. ? are solved by group of students and teacher of B Com, which is also the largest student community of B Com. If the answer is not available please wait for a while and a community member will probably answer this soon. You can study other questions, MCQs, videos and tests for B Com on EduRev and even discuss your questions like Raja purchased an asset under hire purchase system for ` 60,000 payments to be made ` 15,000 down and three installments of ` 18,000 each at the end of each year. Rate of interest is 10% p.a. Raja depreciates asset @ 10% p.a. on diminishing balance method. Due to financial difficulties Raja could not pay any installment after first installment and selling company took possession of the asset. The selling company after spending` 1,500 on repairs it sold away the asset for ` 38,000. ? over here on EduRev! Apart from being the largest B Com community, EduRev has the largest solved Question bank for B Com.