Question

Show the effect of following transactions on the accounting equation:
(1) Sajid started business with cash 60,000, stock 3 30,000 and furniture 20,000.
(ii) Goody costing? 16,000 sold for 15,000 on credit.
(iii) Purchased goods on credit $ 24,000.
(iv) Depreciate furniture by * 3,000.
(v) Bad debts written off * 4,000.
(vi) Cash received < 7,800 from customer and discount allowed to him 200.
(vii) Bad debts recovered 1,500.
(viii) Cash paid 16,600 to creditors and discount received 400.​

Answer 1

Explanation:

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