Question 1 The following transactions were extracted from the books of Sylvestish Traders for the month of August 2020. The business uses the perpetual inventory system. Transactions: 1. Cash sales of merchandise, R5 000.The cost prices is R 2 500. 2. Credit sales of R 4 000. The cost price is R 2 000. 3. Purchased inventory on credit, R2 300. 4. Bought merchandise for cash, R 3 000 5. The owner took goods for own use for R400 (Cost price). Required: Record the above-transactions in the ACCOUNTING EQUATION. No. Account Debited Account Credited Assets - Owner's Equity + Liabilities