On 1st January, 2016, Model Industries Ltd. purchased a machine from Ideal Machineries Ltd. under hire purchase agreement. The terms were that ₹4,780 would be paid on delivery, that is on 1st January, 2016, and the balance in three consecutive yearly instalments of ₹9,261 each, payable on 31st December each year. The instalments included interest @ 5% per annum on the balance of the cash down price due. Calculate the cash down price of the machine and show the Machinery Account (assuming depreciation was charged @ 10% under the Reducing Balance Method) and the account of Ideal Machineries Ltd. in the books of Model Industries Ltd.