Question 3 A. Nene Crane Ltd acquired equipment on January 1 2006 from Quality Engineering Ltd under a two year purchase agreement. This required an immediate deposit of GH$32,000 and a further half yearly instalment of GHS32,000 starting on June 30, 2006. The cash price was GHS150,880. The company's financial year ends on 31 December. Required: i) Calculate and apportion the Hire Purchase Interest over the relevant periods using the Sum of the digits method ii) Show the Quality Engineering Account in the books of Nene Crane Ltd (7 marks) B. State three differences between hire purchase arrangement and an ordinary credit arrangement (3 marks) (Total 10 marks)