Question

Entries for hire purchase accounting ​

Answer 1

Explanation:

Books of Hire-Vendor:

The hire-vendor treats the hire purchase sale like an ordinary sale. He debits the hire purchaser with the full cash price and credits the Sales Account. Interest is debited to the hire purchaser when instalments become due.

Answer 2

Answer:

The hire vendor treats the hire purchase sale like an ordinary sale . He debits the hire purchaser with the full cash prize and credits the sale account ..

Explanation:

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