On 1st January 2012, X & Co. purchased a motor car from Hindustan Auto Limited on the hire purchase system. The agreed cash selling price was ~ 1,20,000. At the time of agreement a sum of ~ 30,000 was paid out of the cash price of the car and the balance was payable in 3 equal annual instalments together with interest @ 10% p.a.

You are required to pass necessary Journal Entries and show important accounts in the books of Hindustan Auto Limited for the year 2012 to 2014 (Date of closing the books of account is 31st December).

Do not copy from Chegg otherwise I have to report