A public limited company which sells a branded product on hire purchase terms has the following transactions for the year ended Mar 31, 2010:
|
April 1,2009 |
March 31,2010 |
||
|
Stock out on hire at lure purchase price |
60,000 |
Stock out on hire at lure purchase price |
69,000 |
|
Stock on hand (in the shop) |
7,500 |
Stock on hand (in the shop) |
10,500 |
|
Installments due (customers still paying) |
4,500 |
Cash received in Installments during the year |
1,20,000 |
|
Prepare necessary Ledger Accounts under stock and Debtors System |