3B What effect will the following transactions have on the accounting equation? (i) An invoice of $300

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3B What effect will the following transactions have on the accounting equation?

(i) An invoice of $300 is paid for electricity used during the current period.

(ii) Inventory costing $20 000 was sold for $30 000 on credit.

(iii) Wages of $20 000 owing to employees from last period were paid this period.

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Fundamentals Of Accounting And Financial Management

ISBN: 9780170454797

8th Edition

Authors: Professor Ken Trotman, Kerry Humphreys

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