Samresh purchased three motor cycles on 1st January, 2014, the cash price being * 56,000. The purchase is on the instalment system, * 15,000 being paid on the signing the contract and thereafter 15,000 being paid annually for 3 years. Interest was charged at 5% p.a. Depreciation was charged @ 20% per annum on the reducing instalment system. Give Journal entries and necessary ledger accounts in the books of Samresh.