Question: Question 2 Study the scenario and complete the question that follows: Nhlapo Curio Shop Nhlapo Curio Shop sells African curios. The business uses a perpetual

Question 2 Study the scenario and complete the question that follows: Nhlapo Curio Shop Nhlapo Curio Shop sells African curios. The business uses a perpetual inventory system. The following transactions occurred during the month of August 2020: Date Description 1 Aug Paid the Johannesburg Metropolitan Council R500 for water and electricity. 15 Aug Purchased inventory of R13 100 on credit from Pay-Less Wholesalers 31 Aug Cash sales for the month of R31 400 recorded on the cash register roll. Required Analyse the above transactions according to the accounting equation. (6 Marks)

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