Started business with cash Rs.80,000purchased goods on credit Rs.30000payment made to creditor Rs.29000 in full settlement of

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Started business with cash Rs.80,000purchased goods on credit Rs.30000payment made to creditor Rs.29000 in full settlement of Rs 30000Sold goods on credit Rs 5000 costing 4500 Cash received from debtor Rs 4900 in full settlement of Rs 5000.

Show the effect of the following transaction on Accounting Equation.

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Financial and Managerial Accounting

ISBN: 978-0538480895

11th Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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Posted Date: Mar 28, 2022 06:32 AM

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Started business with cash Rs.80,000purchased goods on credit Rs.30000payment made to creditor Rs.29000 in full settlement of

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Financial and Managerial Accounting

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