QUESTION ONE Agya clinic entered into a hire purchase agreement with Sasu Enterprise to purchase a new and improved X-ray machine. The list price of the X-ray machine is GH245,000. The payment schedule as provided in the agreement is as follows: Initial deposit GH90,000 31 December 2021 GH67,500 31 December 2022 GH61.750 31 December 2023 GH45,600 31 December 2024 GH37,400 Agya Clinic estimates that economic benefits will flow from its X-ray machines to the business for a period of 15 years, after which it will be disposed off as scrape at GH32,000. Required: i. Determine the hire purchase price and the interest amount included in this amount Apportion the hire purchase interest amount over the relevant periods using the sum of years' digits method Make the necessary ledger entries to record the transactions relation to the higher purchase in the books of Agya Clinic iv. Provide the income statement and statement of financial position extracts for Agya Clinic for all the relevant years