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3. Consider the following transaction pertaining Ammar's business. 1. started business with cash Rs 3 lacs 2. Purchased goods for cash Rs 1.2 lacs 3.

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3. Consider the following transaction pertaining Ammar's business. 1. started business with cash Rs 3 lacs 2. Purchased goods for cash Rs 1.2 lacs 3. purchased goods on credit Rs 60000 4. purchased furniture for cash Rs 20000 5. deposited RS 50000 in the bank A. Present accounting equation for these transactions B. Define the term accounting equation, discuss the impact of each transaction in the books of accounts. (5marks) Break up 2+3=5 marks for correctly explaining term accounting equation, the impact of each transactions

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