You learnt about double entry booking and the debits and credits in chapter 1. Assume that you are presented with the following information which represents the transactions that took place at Porsche (pty) It for the month of November 2023.

1. Owner contributed an additional R100 000 to the business.
2. Purchased inventory worth R75 000 on credit.
3. Sold goods worth R25 000 cash, the goods were previously bought for R20 000
4. Paid for equipment worth R12 000.
5. Sold goods worth R45 000 on credit, the goods were bought for R35 000
6. Bought office stationery worth R5 000

Required:

Record the above transactions based on the basic accounting equation.

(16)

the answer should be in the following format

ain 1 boucht furniture worth R15000 on credit