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Prepare the necessary ledger accounts in books of mr ashish

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Question - Ashish purchased a motorbike on hire purchase system on 1.4.1996. Total cash price of motorbike was 63,920 payable Rs.15,920 and three installments of Rs.16,000 each year plus interest at 5% payable at the end of the year. Depreciation is to be charged at 10% p.a. on straight line method. Prepare the necessary ledger accounts in the books of Mr Ashish.

Reference no: EM132958915

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