Question

Mr A purchase a machine on hire purchase system over a term of 2 years starting from 1st January 2009 the installment of rupees 4,000 each are payable half-yearly the present cash value of the machine is rupees 14870 and the higher vendor charges interest at the rate of 6% per annum working on half yearly basis difference depreciation is charged 15% per annum on returned on the value given the necessary journal entries to record the Above transaction in the books of a closed his books on 31st December each year​

Answer 1

Answer:

Didn't get it at all ...