The below information relates to the books of Sunny Attorneys at 30 May 2021:

1. The owner deposited N$ 50 000 into the business bank account as start-up capital;

7. Paid business rent N$ 7 000;

8. Bought Machinery on credit from Crazy Creditors, N$ 12 000. Paid N$ 6 000 immediately by cheque;

9. The owner took N$ 1 000 for personal use;

18. Commission received, N$ 550;

23. Paid water and electricity, N$ 1 400;

27. Paid and fully settle the full outstanding amount owed to Crazy Creditors.

Required:

1) Show effect on accounting equation

2) Indicate the amount to be debited and the amounted to be credited.