Prepare Accounting Equations based on the given transactions:
(a) Started business with cash Rs.1,80,000, Stock Rs.1,50,000 and Machinery Rs.2,50,000 and Bank Loan of Rs.30,000
(b) Goods purchased for Rs.70,000 at 10% trade discount.
(c) Payment made to creditors Rs.61,500 in full settlement.
(d) Purchase of plant for cash Rs. 45,000 [3]
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a) cash A/c. dr. 1,80,000
stock A/c. dr. 1,50,000
Machinery A/c dr. 2,50,000
To bank loan A/c 30,000
To capital A/c ( balancing figure) 5,50,000
b) purchases A/c. dr 63,000
To creditor A/c. 63,000
c) creditors A/c dr. 63,000
to discount received A/c. 1,500
to cash A/c. 61,500
d) Plant A/c. dr. 45,000
to cash A/c. 45,000
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