b. In efforts to expand and increase production, DUM Limited purchased a new production plant from SOR Enterprise on 1 January, 2017. The cash cost price of the production plant was GH62,000. The agreement suggested that on the day of purchase, DUM Limited pays an initial deposit of GHC 7,000 and the remaining payments spread over four equal instalments of GH17,351 each at each year end, starting from 31 December, 2017 to 2020. The true rate of interest on the balance at the end of every period is 10%. DUM Limited estimates the useful life of the production plant to be 10 years with a residual value of GH1,000. DUM Limited prepares its financial statement to 31 December every year. Required: Account for the above transaction in the books of DUM Limited, showing the financial statement extracts at the end of each accounting year from 31 December, 2017 to 31 December, 2020. NB: Round all numbers to the nearest whole number. 0112 01 812 6022 4. (10 marks) (Total: 15 marks)