Zeta Ltd (ZL) has acquired a boiler on hire purchase scheme for this company paid  ₹ 3,50,000 as down payment and rest of the amount is to be paid in 36 equal monthly installments of  ₹ 20,000 each. The title to boiler will be transferred in the favour of ZL on the payment of last installment. The current cash price of this type of boiler is  ₹ 9,20,000. The prevailing rate of interest for this industry is 12% per annum. Show how this boiler is to be recognized initially in the books of accounts.