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Show the effect o following transaction on Assets, Liabilities and Capital through accounting
equation.
i. Started business with cash Rs. 500000
ii. Purchased goods for cash Rs.50000 and on Credit Rs.20000
iii. Cash sales (costing Rs.10000) for Rs.12000
iv. Cash withdrew for personal use Rs.7000
v. Paid salary in cash Rs.5500
Explanation:
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