QUESTION 4 Sika Yena Limited, a construction company acquired a Concrete Mixer Machine from Gbormittah Limited on 1 January, 2014 for GH129,150 through a hire purchase deal. The cash price of the asset was GH90,000. The condition of the hire purchase contract required that a deposit of GH30,000 was made immediately on delivery, followed by three instalments on 31 December 2014, 2015 and 2016 of GH33,000, GH33,000 and GH33,150 respectively. The interest charged was 30% per annum The depreciation policy of Sika Yena Limited was to write off 20% of the asset annually on straight line basis assuming a nil of residual value. Required: Using the cash price method, prepare: i) Concrete Mixer Machine Accounts ii) Hire Purchase Vendor/Gbormittah Limited Account Hire Purchase Interest Payable Account (10 marks) END OF PAPER