Question

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Q.8 From the following business transactions of a business firm for the month of July 2020, prepare Accounting Equation:
July 01: Balance of Cash Rs 120 000; Goods Rs45,000 Debtors Rs 20,000 Capital Rs 1,79.000 and creditors Rs10,000.
July 05: Goods sold (costing Rs 15,000) on credit to Dinesh at 20% profits on cost.
July 12: Outstanding salary Rs 9,000
July 17: Commission received in advance Rs 12,000.
July 26: Goods purchased for cash Rs 25,000
July 31: Goods given as charity Rs 1,000.​

Answer 1

Answer:

Explanation:

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