Mr. Asif has stated a trading business. The transactions for the month of March, 2020 are as under:- March 1. 3. 4. 6. 8. Invested Rs. 450,000 cash as capital. Purchased furniture at the cost of Rs. 70,000 on credit. Purchased merchandise at the cost of Rs. 250,000 for sale and paid cash. Paid rent of shop for the month amounting to Rs. 25,000. Sold merchandise costing Rs. 50,000 at the price of Rs. 75,000 and collected cash. Sold merchandise to Mr. Arshad costing Rs. 40,000 at the selling price of Rs. 60,000 and collected cash of Rs. 40,000, the balance due. 10. 13. Paid telephone bill amounting to Rs. 3,000 16. Purchased merchandise costing Rs. 80,000 on credit from Subhan Company. 18. Collected cash of Rs. 10,000 from Mr. Arshad for goods sold to him on credit. 22. Paid electricity bill amounting to Rs. 6,500. 25. Paid Rs. 50,000 for the furniture purchased on credit. 31. Paid Salary of an employee amounting to Rs. 20,000. Required Prepare a statement of an accounting equation in detail and record the above transactions indicting the balance of each item of every transaction.