Sri S. Gupta acquired a machine on 30.6.2017 from B.C.Ltd. on hire-purchase system. The cash price of the machine was ₹17,000. The agreement provided that he would pay ₹4,000 on the delivery of the machine and the balance in six half-yearly instalments of ₹2,400 each. B.C.Ltd charged interest at 6% per annum on half-yearly balances. The buyer closed his books of account on 31st December every year. Assuming that he decided to write off depreciation on the machine at 10% per annum (on diminishing balance method), show necessary Ledger Accounts in the books
of S.Gupta.