Illustration 3 Prove that the accounting Equation is satisfied in all the following transactions 1. Sam started business with $25,000 2. Goods purchased for cash $10,000 3. Bought furniture $5,000 4. Purchased goods on credit $6,500 5. Cash paid to creditors $4,500 6. Paid salary $500 7. Received commission $2,500 8. Paid rent $2,000 Transactions Assets = Liabilities + Capital 1. 2. New equation 3. New equation 4. New equation 5. New equation 6. New equation 7. New equation 8. New equation