Question 1 [35] The following are transactions of Deflated Jumping Castles for July 2021. The business uses the perpetual inventory system with a markup of 30% on cost price. Transaction details 1. The owner increased his capital contribution from R75 000 to R100 000. 2. Credit sales to XYZ Castles, cost price of inventory R19 000. 3. The business bought new equipment for R99 000 and transferred the money to Castle Motors. 4. Charged a debtor interest for an overdue account, R175. 5. Paid R5 500 to the local school in the area. R2 500 was for the school fees of the owner's son and the rest was a donation to the school from the business 6. Cash sales of trading inventory. Selling price was R11 700. 7. Sent through proof of payment, R3 500, to a creditor in part payment of the account. 8. Took out a loan from ABC Bank to expand the business, R295 000 9. The owner took trading inventory with a selling price of R845 for personal use. Required: Show how the above transactions will affect the accounting equation. Use the example below as a guideline for presenting the answers to the question Ignore VAT for all transactions You do not have to check the correctness of the duality principle. Example: The business paid advertising for the month, R10 000 Assets Liabilities No. Account Dr Eg. Advertising General Ledger Account Cr Bank Owner's equity -10 000 - 10 000