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Prove that the accounting equation is satisfied in all the following transactions: 1. Commenced business with $30,000 2. Goods purchased for cash $10,000 3. Bought

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Prove that the accounting equation is satisfied in all the following transactions: 1. Commenced business with $30,000 2. Goods purchased for cash $10,000 3. Bought furniture $8,000 4. Purchased goods on credit $5,000 5. Cash paid to creditors $4,200 6. Paid interest $5,300 7. Received commission $6,300 8. Withdrew for personal purposes $3,500 9. Sold furniture $1,000 10. Sold goods for $4,200 Transactions

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