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Dana commenced business on 31 January 2021, transferring $5,000 from her personal bank account into a business bank account. During the first week of
Dana commenced business on 31 January 2021, transferring $5,000 from her personal bank account into a business bank account. During the first week of February 2021 the following transactions occurred: 1 Feb. 2 Feb. 3 Feb. 4 Feb. 5 Feb. Bought motor van costing $800 paying by cheque Bought goods on credit: Abyat $400, X-cite $250 Sold goods for cash $600 (cost of goods sold $400) Banked cash $600, paid Abyat $400 by cheque Bought goods on credit: Abyat $200, Aljassar $300 Show the accounting equation at the end of each day's transactions.
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