Question 5.13 REQUIRED LIABILITIES EQUITY Indicate the effect of these transactions on the accounting equation by completing the following table: No Source Account Account document debited credited N.B. Round al amounts off to the nearest rand. INFORMATION Aircon Suppliers, a registered VAT vendor, uses the periodic Inventory system and for debtors and creditors, the control system is used. All inventory is sold at a profit mark-up of 50% on cost. Aircon Suppliers had the following transactions during May 20.5. VAT at 15% is included in all amounts, where applicable. 1. Purchased goods on credit from Airosparks for R1 363 2. Received R220 from debtor koel. 3 Cash sales, R4 180. 4. Paid the salary of the manager by EFT, R3 500. The owner took goods that were purchased at R285, for personal use. The correcting entries for the following error must be made: A payment of R270 was made to creditor Coolit in settlement of the account after it was determined that the bookkeeper made a mistake when capturing one of the invoices: R270 Dr Bank Cr R270 Creditors control / Coolt