Question 4 [34] The following are transactions of A Super for March 2020: 1. The owner deposited capital directly in the bank account, R10 000. 2. Sold goods for cash, R840; cost of sales, R420. 3. Paid the telephone account by cheque, R450. 4. Bought goods on credit, R3 500. 5. Paid casual wages from petty cash, R150. 6. Charged a debtor R15 interest on her overdue account. 7. Returned unsatisfactory stationery to the supplier, R125. 8. A debtor, who owes R450, has been declared insolvent. Received a cheque of 50 cents in the rand. Write off the balance as irrecoverable. 9. Received a cheque for rent of storeroom, R250. 10. The bank statement showed that the firms account had been debited with service fees, R56, and credit card charges, R44, and credited with interest, R35.

Required: Show the effect of the transactions above on the accounting equation on 31 March 2020, the end of the accounting period, and then test the correctness of your answer by applying the duality concept/principle.

Use table format below to complete

NO.	ASSETS		=	EQUITY		LIABILITIES
	+		=		+		+
1
2

Example: The business has not paid the latest account for advertising, R500. No. ASSETS EQUITY LIABILITIES DR / + CRI - DR/ CR/ + DRI - CR/ + 500 500 +