Presented below is the basic accounting equation. Determine the missing amounts.
Assets 5 Liabilities 1 Owner’s Equity
(a) $90,000 $50,000 ?
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Explanation:
record the transaction in the personal account of kapil
2000
April 1 sold goodsto Kapil 6000
5 Cash received from Kapil 5800 and allowed him discount 200
18 Kapil purchased goods 8000
30 received cash from Kapil an account
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