Question 1 [39] Kingfisher Enterprises is a local company selling computers and computer parts. All inventory is sold at 35% markup on cost. The following transactions took place during May 2022 for Kingfisher Enterprises. Ignore VAT. Purchased trading inventory from Bengaluru Bargains on credit, R56 438. 1. 2. Paid monthly rent, R18 450, via electronic transfer. 3. Sold goods on credit to Loashan, R34 425. 4. 5. 6. 7. 8. 9. 10. 11. The owner, B Bengaluru, made a capital contribution to increase his capital from R158 000 to R250 000. This was done by means of an electronic transfer from his personal account to the business's bank account. Paid wages, R9 840. This was done by drawing cash from the business's bank account. Received an invoice for repairing the printer, R3 981. The invoice was paid by electronic transfer. It is company policy that repairs are not capitalised. Cash sales, R12 015. The amount was banked on the same day. Purchased a computer for use in the office on credit, R15 999. Received payment from a debtor, R2 500, as part payment on his account. The owner took R500 from the petty cash for personal use. Settle the account of Bengaluru Bargains in full. No discount is allowed and the balance on this account at the beginning of the month was R2 780, being an amount short-paid in April 2022. Required: Enter the transactions above in the accounting equation below, applying the duality concept. Example: The entity paid for an advert placed in the local community's business directory. No. General Ledger Account DR Assets = Equity + Liabilities Account CR e.g. Advertising Bank -1650 -1 650