Question

Prepare an accounting equation for the following business transaction

1. Purchased supplies on account, 4,000

2. Purchased furniture and fixtures for cash, 3,000

3. Paid account in no. 1.

4. Paid advance advertisement for promoting the business 1,000

5. Paid the note 2,000

Answer 1

you draw a T. form and then you can start to in debit and credit