prepare accounting equation:- 1)cash paid to rohit in full settlement 2)cash received from manish 3)cash withdrew for personal - Accountancy - Theory Base of Accounting

Question

prepare accounting equation:- 1)cash paid to rohit in full
settlement 2)cash received from manish 3)cash withdrew for personal
use

Saurabh Mehta · Accepted Answer

(1) Cash balance is reduced on the Asset Side,
Creditor(Rohit)balance is reduced on the Liabilities Side and
Capital balance will be increased with the amount of discount
received(Debt balance - Actual Amount paid)
(2) Cash balance is increased and Debtor(Manish)balance is
reduced, both on the Assets side
(3) Cash balance is reduced on the Assets side and Capital
Balance is reduced (drawings)

prepare accounting equation:- 1)cash paid to rohit in full settlement. 2)cash received from manish. 3)cash withdrew for personal use.