Neo concerned business on 1* April, 2014. During the year ended 31st March, 2015 purchases amounted to $ 54,000 and ordinary sales $ 62,000. In addition the following sales were made under Hire...

Extracted text: Neo concerned business on 1* April, 2014. During the year ended 31st March, 2015 purchases amounted to $ 54,000 and ordinary sales $ 62,000. In addition the following sales were made under Hire Purchase arrangements: Initial Monthly No. of instalments paid during the year Article Cost Sales amount Instalmen price paid t Radio Washing Machine 20 of $ 40 12 of $ 90 18 of $ 50 600 900 100 8 800 1,200 120 2 Record Player 700 1,000 100 4 After 4 instalments had been paid on Record Player it was returned on 29th March, 2015. Stock in trade on 31* March, 2015 excluding Record Player returned amounted to $ 7,000. Prepare (1) Hire Purchase Trading Account,(I1) General Trading A/c.(I) Goods Repossessed Account.