On 1st January, 2013, the Black Colliery Co. Ltd. purchased five wagons on the instalment system from Burn & Co Ltd. The cash price of the wagons was Rs.7,45,000 and Rs. 2,00,000 was to be paid on signing the agreement and the balance in 3 instalments of Rs. 2,00,000 each at the end of each year. Interest is charged at 5% p.a. by the Burn & Co Ltd. The company has decided to write off 10% annually on the Diminishing balance of the cash value. Make the entries and open the necessary accounts in the books of the Black Colliery Co. Ltd. and Burn & Co. Ltd.