2 N 7 Abba launched a new business, AB Laundry (ABL) that began operations on 1 January 2017 The following transactions were completed by the company during the first month: Abba invested RM53,000 cash in the business, ABL Purchased equipment RM10,400 on credit from SLM Machine Purchased laundry supplies RM7,050 by cash. Performed laundry service to customers and received RM1,650, by cash. 11 Performed RM1,600 laudry services for Karisma Catering College (KCC). Received RM1,000 cash and the remaining balance on credit/on account. 15 Purchased second dryer machine from LMS Machineries at the cost of RM15,000. ABL paid LMS Machineries RM3,000 by cash and the balance of RM12,000 by loan from CIMD Bank 25 Paid RM1,800 for assistants salary and RM1,500 for space rent by cash. Received RM300 from KCC as part of payment for transaction on 11 June. 30 Abba brought additional investment RM2,000. Chapter 27 1-30 Class Exercise: Prepare Accounting Equation for the following Abba launched a new business, AB Laundry (ABL) that began operations on 1 January 2017. The following transactions were completed by the company during the first month: Abba invested RM53,000 cash in the business, ABL 2 Purchased equipment RM10,400 on credit from SLM Machine 2 7 11 Purchased laundry supplies RM7,050 by cash. Performed laundry service to customers and received RM1,650, by cash. Performed RM1,600 laudry services for Karisma Catering College (KCC). Received RM1,000 cash and the remaining balance on credit/on account. Purchased second dryer machine from LMS Machineries at the cost of RM15,000. ABL paid LMS Machineries RM3,000 by cash and the balance of RM12,000 by loan from CIMD Bank 15 6 ld Ps