Question: The accounting equation is complete. What exactly is missing ? Question 1 The following transactions were extracted from the books of Sylvestish Traders for the

The accounting equation is complete. What exactly is missing ?

Question 1 The following transactions were extracted from the books of Sylvestish Traders for the month of August 2020. The business uses the periodic inventory system. Transactions: 1. Cash sales of merchandise, R5 000. 2. Credit sales of R 4 000. 3. Purchased inventory on credit, R2 300. 4. Bought merchandise for cash, R 3 000 5. The owner took goods for own use for R400 (cost price) Required: Record the above-transactions in the ACCOUNTING EQUATION. No. Account Debited Account Credited Assets = Owner's Equity + Liabilities

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