QUESTION ONE [20] The following transactions during January 2020 relate to County Traders:

Date January Details Amount (R) 01 Paid for rental of equipment. 500

04 Purchased a vehicle on credit from Sevenoaks. 24 000

06 Received partial payment from debtor, Kent. 2 000

08 The owner pays with a business cheque for personal expenses. Withdraws money for personal use. 1 200 800

10 Paid creditors. 12 000

12 Rendered services on credit to Surrey. 4 000

15 Issued a credit note to Surrey for unsatisfactory services. 200

20 Cashed cheque 111 for: Telephone Wages for the month 150 900

Required:

Show the effect of the above transactions of R Red on the accounting equation. Use + to denote an increase, - to denote a decrease and 0 to denote no change to the elements of the equation. Present the above transactions in the following format: No. Acc debit Acc credit Assets = Equity + Liabilities e.g. Bank Sales +200 +200 0