in hire purchase how will we deal it?
Goods repossessed (instalments not due Rs. 36,000) 9,000
while preparing hire purchase stock ac we will credit goods repoossed ac by which amt? 36000 or 9000?
is 9000 the markey value
pls help
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hire purchase small doubt
Replies (1)
hire purchase stock a/c will be credited by Rs.36000
when goods are repossessed, entry passed for the amt for which installment is not due is-
hp debtors a/c dr
to hp stock a/c
and yes, Rs.9000 is the market value given...
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