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@joe: ripe enough to incorporate into the core?

Try it first in a sandbox by upgrading to 2.4.8 and with the official import transactions bundle and then replace the files with the one in Post 131 here.

Assuming a single voucher for all transactions were entered as at the end of First Year, the broad parts would skeletally be:

On Purchase:
    By HP Co Cr 69000 (15K + 3 x 18K)
    To Fixed Asset Dr 60000
    To Interest Charges Dr 9000

On Down Payment: 
    By Checking Bank Account Cr 15000
    To HP Co Down Payment Dr 15000

On First Year End:
    By Fixed Asset Depreciation Cr 6900
    To First Year Depreciation Dr 6900

On First Installment Payment:
    By Checking Bank Account Cr 18000
    To HP Co First Installment (Principal + Interest) Dr 18000

On Repairs before sale:
    By HP Co Cr 1500
    To Repairs Dr 1500

On Repossession Sale:
    By Sale (repossession) Cr 38000
    To HP Co Repossession Dr 38000

Interest Reversion for balance period (assuming Simple Interest):
    By Interest Charges (refunded on repossession) Cr 6000
    To HP Co Interest waiver for balance term Dr 6000

Net Status of the Transaction:
Net Balance due from HP Co (excess sale value) : (15000 +18000 +6000 + 1500 + 38000)  - 69000 = 8000
On sale, Fixed Asset vanishes - 0 Value (Adjustment entry as needed)
No reversion of depreciation as it would become a true expense.

The above assumes that the repossession took place immediately after the payment of the first installment. In case the repossession and sale occurred after the second year, then additional interest and penalties will apply and the profits from sale will be appropriately get reduced.

Kindly pose your accounting questions to your auditor as this forum is not for teaching accounting.

The said string "You must enter reference" does not exist in both the core files of FA 2.3.x and FA 2.4.x and in their respective extension files.

Please check to see if you have done any customisation of the core files where the said alert emanates.

New translation strings in FA 2.4.8 attached.
Translations hammered out on Transifex.

This is how you create sub ledgers. It works.

The Dutch CoA has been updated as there was one "inactive" named field which was out of sequence. Also it differs from the en_US-new.sql in that it has some masters data as well and is suitable for a New Install.

@joe: How do we handle such rounding errors in a standardised way to avoid adjustment journal entries?

$config_allocation_settled_allowance value in config.php.

Explain how you wish to treat admin expenses on accrual basis.
Normal journal entries should suffice.
Otherwise, if inventorable goods are used and wish to be tracked, then open a sales order and keep adding to it and keep delivering it in part and when all are done, "invoice" it by allocating from an equivalent credit note for self expenses.

https://www.transifex.com/gnuacademy/frontaccounting-1/ -- FA 2.3.x
https://www.transifex.com/gnuacademy/frontaccounting24/  -- FA 2.4.x

Since you are only drop shipping it, have a separate PHP Application or FA module made that reads from the FA tables and do it as a cron job for population of the new application/module's tables. The only real page for the application/module would be to choose the drop ship customer and provide reports. This way, you need not divulge the rates / prices of your real customer to their downlines.