accounting equation

Mr. Shucks Shabalala decided to open up his own taxi repair and service unit called Shucks Enterprises. The following transactions took place during January 2020, his first month of business. 1. Mr. Shucks invested R150 000 of his own cash into the business banking account. 2. Acquired a loan of R50 000 from ASBA Bank. 3. Mr. Shucks purchased equipment and tools for R38 000 cash. 4. Provided services for his first class client and received a payment of R8 400 through an EFT. 5. Bought a motor vehicle on credit for R100 000. He paid R50 000 deposit from the bank account and the balance is payable over two years in equal monthly instalments. 6. Mr. Shucks withdrew R1 800 to buy an expensive valentine's gift for his wife. 7. Provided services for Taki's taxis and billed them R3 800. 8. Processed a R5 000 EFT payment for salaries and wages. 9. Paid R550 interest on the loan from ASBA Bank. 10. Received an EFT notification for R4 000 from Taki's Taxis. Page 4 of 10 Introduction to Business Accounting - ACC1142 Test 1 Required: Record the above transactions in the accounting equation, clearly stating which accounts are debited and credited. Use the format provided below: Example: Telkom was paid R180 for telephone use No: Account debit | Account Credit | Assets Owners' Equity + Liabilities Telephone Bank 180 180 expense