Question

Ramesh started business with a capital of 1,00,000.Following transactions took place during the year:1. Deposited 60,000 in bank.2. Purchased goods from Amit 30,000.3. Sold goods costing *20,000 for 25,000 to Mohan out of which 7,000received in cash.4. Paid salary 5,000 but salary still unpaid 1,000.5. Received commission 2,000 including 500 as advance.6. Sold goods costing 5,000 at a loss of 500 in cash.7. Received 17,400 from Mohan in full settlement of his account by cheque.8. Returned goods to Amit 2,000.9. Issued a cheque of 27,200 to Amit in full settlement of his account.Use accounting equation to give effect to above transaction.​

Answer 1

this is question 10th but 27200 to Amit to give effect to above transaction