Examine separately the effect of each of the following transactions on the relationship A=C+L. 1 The owner of a business received a legacy of $2,000 and paid it into his business bank account 2 Machinery costing $3,000 is purchased for cash. 3 Stock is purchased on credit from ABC & Co. for $800. 4 A business computer is purchased for $5,000 financed by a loan from a friend. 5 Trade debts amounting to $750 are collected from customers. 6 Stock costing $1,000 is sold for $1,400 cash. 7 ABC & Co. are paid $220. 8 Stock is purchased for $350 cash. 9 Goods costing $1,000 are sold on credit to XYZ Ltd for $2,500. 10 A filing cabinet is purchased for $60 by increasing an existing bank overdraft. gl