Question

Cargo Wings provides the following data for the month.
i. Invested in the business; Inventory 15,000; Cash 25,000; Motor Vehicle 10,000; Receivable 7,000; Machinery 8,000 & Creditors 15,000.
ii. Bought Goods from AR Electric store for $450
iii. Sales $2000 made on credit to Bashir Sons on March 15. Mr. Umair offered a 5% discount if the payment will be made in the same month
iv. Applied for a Loan from Faysal Bank Ltd. of $ 15,000.
v. Purchased office furniture from Interwood by paying half of the total amount of $1,200
vi. Bashir Sons returned goods worth $500
vii. Sold Good to Rashid Ltd. for $3200
viii. Zakir Ltd purchased goods from us for $2300

Answer 1

Answer:

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