On 1.1.2015, Ramlal purchased a Machinery on hire purchase system. The payment was to be made * 4,000 down (on signing the agreement) and 4,000 annually for three years. The cash price of the Machinery was 14,900 and the rate of interest was 5%. Calculate the interest included in each instalment. Show what entries would be passed by the head office to record the following transaction in their books, a) Goods amounting to Rs. 500 transferred from Kolkota branch to Kochi branch under the instruction of head office. b)A remittance of Rs. 3,000 made by the Kochi branch to head office on 26th December and received by the head office on 4th January. c) Goods worth Rs. 5,000 shipped by the head office to Agra Branch on 26th December and received by the latter on 15th January. Assume that the yearly closing date was 31st December.