Majestic & Co. commenced business on January 1, 2017 dealing in radio sets and record players. They sell goods both directly as well as on hire purchase. You are furnished with the following information for the year ended 31st December, 2017:During the year the firm repossessed 3 radio sets and 2 record players for failure to pay the instalments. The hire purchase customers had paid only 4 installments each in respect of these radio sets and record players. At the time of repossession, the radio sets were valued at ₹200 each and the record players were valued at ₹500 each. The firm spent ₹30 per radio set and ₹70 per record player on reconditioning. These sets were sold to employees at a concessional rate of ₹300 per radio set and ₹700 per record player and the amount was recovered from their salaries before the close of the year. You are required to prepare columnar:

(i) Hire Purchase Trading Account

(ii) Goods sold on Hire Purchase Account

(iii) Purchases Account

(iv) Goods Repossessed Account

(iv) General Trading Profit and Loss Account

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Purchases Sales: Direct for cash On hire purchase To employees as explained below Purchase cost per unit Direct sales price per unit Terms of hire purchase sale: Cash down at the time of delivery Monthly instalments Number of instalments Instalment collected Instalments due but not yet collected 2222 ₹ ₹ HV HV Radio sets 1,000 800 40 3 400 500 100 50 10 260 15 Record players ₹ HV HV HV HV ₹ 100 50 20 2 1,200 1,500 300 150 12 110 10