Question

Raja purchased an asset under hire purchase system for ` 60,000 payments tobe made ` 15,000 down and three installments of ` 18,000 each at the end ofeach year. Rate of interest is 10% p.a. Raja depreciates asset @ 10% p.a. ondiminishing balance method.Due to financial difficulties Raja could not pay any installment after firstinstallment and selling company took possession of the asset. The sellingcompany after spending` 1,500 on repairs it sold away the asset for ` 38,000.Prepare necessary ledger accounts in the books of both the parties ?

Answer 1

Answer:

132500 is a answer parties