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(c) The Motor Car Account has been debited during the year with 9 monthly instahnents of £60 each in respect of a new motor van, which has been purchased under a hire-purchase agreement. An exammation of the agreement revealed that the cash price was

£960, and the hire-purchase price was £1,080, payable in eighteen equal monthly instahnents of £60, the first mstalment being paid 1st July, 1961. (Hire-Purchase Interest to 31st March, 1962—£80).