Zeta Ltd (ZL) has acquired a boiler on hire purchase scheme for this company paid ₹70,000 as down payment and rest of the amount is to be paid in 48 equal monthly installments of ₹10,000 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 ₹4,20,000. The prevailing rate of interest for this industry is 18% per annum. Show how this boiler is to be recognized initially in the books of accounts.