1 Sri S. Nandi acquired a machine on 30th June, 2016 from B.C. Ltd. on hire-purchase system. The cash price of the machine was 34,000. The agreement provided that he would pay 8,000 on the delivery of the machine and the balance in six half-yearly instalments of 4,800 each. B.C. Ltd. charged interest at 6% per annum on half-yearly balances. The buyer closed his books of accounts on 31st December every year. Assuming that he decided to write off depreciation on the machine at 10% per annum (on diminishing balance method), show necessary ledger accounts in the books of S. Nandi