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Hire purchase
Accountancy
In given below question Tractor b is disposed how will be shown in the lecture of hire vendor a/c
Answers (2)
Best Answer
There's misssing info in the question regarding same, hence they did not ask for vendor account. There will be entries for Interest account in vendor's account. Balance due to HP on account of tractor B will be written off and adjusted with sum received from Insurance company. Practically, it will depend on how they had agreed upon to bear such losses
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