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23 October 2009 in a problem of hire purchase an asset was sold&the mode of payment is 20 monthly inst.after down payment.in the year of sale only 8 inst.was received.so h/p.debtors should be 4inst.but in solution they takes 12 inst.is that correct?
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CA Balram Sharma

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CA Balram Sharma (Expert)
29 October 2009 No ,

only the installment due is consider as HP DEBTOR,

undue installment is the part of HP STOCK(AFTER EXCLUDING PROFIT)

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