QUESTION 3 ACCOUNTING EQUATION (29 marks; 25 minutes) Michael Nxumalo has started his own business, M&M Clothing, which sells school uniforms. He does not know much about accounting, but he has employed a qualified bookkeeper, Patricia Pretorius to look after the financial control of the business. Michael uses the perpetual inventory system and a mark-up of 50% on cost. Some of the transactions that occurred in January 2022 are as follows: Jan 1 Michael provided capital in the form of cash, R80 000, and a vehicle, R90 000. 4 Sold good to M.Phontso, goods to the value of R4 500 subject to 2% cash discount. The owner paid for flowers for his mom, with company bank card, R350. Sold uniform items for cash to N Naude, R750. The cost price was R500. 5 11 12 15 Paid Space Computers R8 000 by EFT for equipment bought. Sold uniform items on credit to T Tredoux. The selling price was R1 350 and the cost price was R900. I Tredoux returned a school tracksuit that she had bought the day before. The selling price was R240 and the cost price was R160. 16 18 20 22 Paid for repairs to equipment out of petty cash, R40. T Tredoux settled her account by EFT. (see transactions on the 15th and 16th) Donated stock to a learner who could not afford to pay. The cost price was R450. REQUIRED: Analyze the transactions on the table provided to reflect the journal, the accounts affected in the ledger, and the effect on the accounting equation. Only show the signs + or - in the effect columns, amount has its own column. 8