On 1st Aoni 2016 Chaupary Harpal Singh purchased a Tractor of the cash price of Rs 2.20 000 on hire purchase sysler Tom Esconsud DA
20 000 were packmetely and the balance in 4 annual installments of
Rs 50,000 sach wit interest al 8% per annun The depreciation is to be
chazda 1000 Onnitten down value method Harpal Singh paid 2
installments and failed to pay the third installment Escorts Lid took away
the tractor by paying him Rs 90,000 in cash Make necessary ledger
accounts in the books of Harpal Singh Books are closed on 31st March
every year