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Star Bhd is a leader in the marketing of premium heavy equipment in Malaysia and Brunei. The company offers full range of construction equipment and
Star Bhd is a leader in the marketing of premium heavy equipment in Malaysia and Brunei. The company offers full range of construction equipment and earth moving machinery such as backhoe loaders, dozers, wheel excavators and many more. On 5 October 2020, Earth Bhd purchased a wheel loader under hire purchase agreement from Star Bhd. The cash price of the loader was RM245,500 and the interest charged was 8% per annum. Earth Bhd paid 20% of the cash price as a deposit. The hire purchase period was 36 months and the instalments are paid at the end of each month starting from 31 October 2020. The depreciation charge is 10% per year.
(a) Calculate the hire purchase price and the monthly instalment for Earth Bhd.
(a) Calculate the hire purchase price and the monthly instalment for Earth Bhd.
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a Hire Purchase Price and Monthly Instalment Cash Price of Wheel Loader RM245500 Deposit 20 x RM2455...Get Instant Access to Expert-Tailored Solutions
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