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Business, 30.05.2021 14:00 miajay14

ACCOUNTING EQUATION 1. Record the following in the Accounting Equation

Commence business with cash Rs. 200,000 and Land Rs. 50,000.

Bought goods on credit from Salman of worth Rs. 50,000.

Purchase furniture of the value of Rs. 5,000 by cash.

Paid wages Rs. 1,000,

Sold goods on credit costing Rs. 4000 for Rs. 4500

Paid Interest on capital Rs. 2000

Paid Creditor Salman in full settlement Rs. 48,000

Sold goods costing Rs. 2000 for Rs. 1800

Outstanding wages Rs. 500

Commission received in advance Rs. 200​

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ACCOUNTING EQUATION 1. Record the following in the Accounting Equation

Commence business...

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