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Prepare the accounting equation for the following transactions: 1) Business started with Cash 5,00,000 2) Goods purchased with cash 2,00,000 3) Rent paid 10,000 4)

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Prepare the accounting equation for the following transactions: 1) Business started with Cash 5,00,000 2) Goods purchased with cash 2,00,000 3) Rent paid 10,000 4) Bank loan taken 1,00,000 5) Sales to Mohan on credit 1,00,000 6) Salary paid 20,000 7) Mohan paid as full settlement 99,000

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