Question

Prepare an Accounting Equation from the following:
(1) Started business with cash 1,00,000.
(ii) Purchased goods for cash 20,000 and on credit * 30,000.
(iii) Sold goods for cash costing # 10,000 and on credit costing 1
of 20%.
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Answer 1

Answer:

cash a/c -dr 100000

to bank 100000