draw accounting equation
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The accounting equation remains in balance since ASC's assets have been reduced by $100 and so has the owner's equity. This transaction is recorded in the asset account Cash and the owner's equity account J. Ott, Drawing.
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The accounting equation remains in balance since ASC's assets have been reduced by $100 and so has the owner's equity. This transaction is recorded in the asset account Cash and the owner's equity account J. Ott, Drawing.
Hope it helps
bibek35:
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question: goods costing ₹20000sold at a loss of 5% out of which ₹1200received in cash
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