Question

Prepare Accounting Equation from the following (a) Started Business with cash Rs.2 Lakh (b)Purchased goods for cash Rs.60,000 and on credit Rs.1,50,000 (c)Sold Goods for Cash costing Rs.40,000 at a profit of 20% and on credit costing Rs.72,000 at a profit of 25% (d)Paid for Rent Rs.5,000​

Answer 1

Explanation:

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