Home appliances Ltd. Sells goods on hire purchase terms at a profit of 25% on hire purchase price. Following are the transactions for the year ended December 31, 2018.
| Rs. | ||
| January | Stock out on hire at cost. | 6,000 |
| Stock on hand (at shop) | 1,000 | |
| Installment due | 600 | |
| Cash Received | 16,000 | |
| December 31 | Stock out on hire (at cost) | 6,900 |
| Stock on hand (at shop) | 1,400 | |
| Installment due | 1,000 |
Calculate the profit or loss on hire purchase under Debtors Method.
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