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4) National Sales Corporation has a hire purchase department. Goods are sold on hire purchase at cost plus 25%. From the following particulars, prepare ledger

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4) National Sales Corporation has a hire purchase department. Goods are sold on hire purchase at cost plus 25%. From the following particulars, prepare ledger accounts according to stock and debtors system. Rs. Stock with Hire Purchase Customer at Selling Price on 1.4.2012 15.000 Installment Due (customer paying) on 1.4.2012 1,800 Hire Purchase Sales at selling price during the year 2012-13 96,500 Cash received during the year 98,300 Goods repossessed (installment due Rs. 2,000) valued at 1,700 Installment Due (customer paying) on 31.3.2013 1.100

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