Question: Answer ALL questions in this paper. [100 MARKS] QUESTION 1 (20 Marks) 1.1 When a transaction takes place, it passes through various stages in the

Answer ALL questions in this paper. [100 MARKS]

QUESTION 1 (20 Marks) 1.1

When a transaction takes place, it passes through various stages in the accounting cycle. If equipment is purchased on credit, state how each stage is affected by answering the questions in the table provided in the answer book.

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