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 Ms  P Smith commenced a business on 31" January 2019 by transferring 35000 as capital from her personal bank account into the business bank account opened on the same date

Accounting

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 Ms  P Smith commenced a business on 31" January 2019 by transferring 35000 as capital from her personal bank account into the business bank account opened on the same date. During the first week of February 2019 the following transactions occurred: February 1: Business bought a motor van costing 2800 paying by Cheque February 2: Business bought goods on account or credit from J Jones 3400 E Holmes 250 February 3: The goods costing 400 were sold for cash 8600 February 4: Paid J Jones 3400 in cash February 5: Business again bought goods on account or credit from J Jones 8200 A Turner 300 You are required to show the accounting equation at the end of each day's transactions.