The business uses the PERIODIC INVENTORY method with a mark-up on cost of 50%. 1 The owner took cash for personal use R 35 000. 7 Paid the Southern Municipal Council for the business' water and electricity bill by cheque, R 342. 12 Purchased trading inventory on credit from Scott & Allen, R 28 500. 15 Cash sales of trading inventory, selling price = R 855. 20 Returned trading inventory with a cost price of R 2 500 and receive a credit from supplier. 27 Credit sales of trading inventory, selling price = R 1 575. 28 A debtor returned some of the goods purchased from Top Shoe Suppliers on 27 March 2014. The cost price of the goods was R 640.REQUIRED Show how the above transactions will affect the accounting equation and enter how the accounts in the general ledger will be affected.