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

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Accounting

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QUESTION ONE [20] The following transactions during January 2020 relate to County Traders: Date Details Amount January 01 Paid for rental of equipment. 04 Purchased a vehicle on credit from Sevenoaks. 06 Received partial payment from debtor, Kent. 08 The owner pays with a business cheque for personal expenses. Withdraws money for personal use. 10 Paid creditors. 12 Rendered services on credit to Surrey. 15 Issued a credit note to Surrey for unsatisfactory services 20 Cashed cheque 111 for: Telephone Wages for the month (R) 500 24 000 2 000 1 200 800 12 000 4 000 200 150 900 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 to denote no change to the elements de the equation. Present the above transactions in the following format: No. Acc debit Acc credit Assets + Liabilities Equity -200 e.g. Bank Sales +200

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