3.2. Effect of credit transactions on the accounting equation: (12 marks) Show what effect the following transactions have on the accounting equation. Use the columns as presented in the example below: Example: Goods sold on credit, R 2300 (Cost price, R 1900) No ASSETS OWNER'S EQUITY LIABILITIES Effect Reason Effect Reason Effect Reason e.g.+2 300 Debtors increased + 400 Profit -1 900 Trading stock decreased earned 0 1. UBER Traders bought goods on credit from W Suppliers, R 5500.00 2. Paid R 1740.00 to Murray Suppliers in settlement of their account 3. Received R 970.00 from M.F AITH as part payment of the money he owes in his account 3.2. Effect of credit transactions on the accounting equation: (12 marks) No ASSETS OWNER'S EQUITY LIABILITIES Effect Reason Effect Reason Effect Reason (12 Marks)