: prepare accounting equation on the basis of the following transactions 1 started business with cash rs 50000 and goods rs 3000. 2 purchased goods for cash rs 30000 and on credit from karan rs 20000. 3 goods costing rs 40000 were sold for rs 55000 for cash. 4 withdrew cash for personal use rs 10000. 5 rent outstanding rs 2000.
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