Record these transactions using the accounting equation. Your entries must show the effect on the accounting equation.

1. Amos Ncobo invested R8 700 into a repair business, Ncobo’s Fast Fix.

2. Purchased tools on credit, R3 700.

3. Bought building materials, R2 600 cash.

4. Completed repairs and received R1 550 cash.

5. Paid rent for the month in cash, R1 200.

6. Paid a deposit of R2 000 for a vehicle that cost R8 000.

7. Paid telephone and electricity, R520.

8. Completed repairs and received R400, the balance of R900 to be paid later.

9. Paid wages and salaries, R900.

10. Received R900 due from receivable in Transaction 8 above.