I am taking TCA 221 class. I am in Ch.2 now, which is Accounting for Business Transactions. The question ask me to make T-account for every item - "Paid $100 on account to Edgar's Food Supply". How many items on this question? What are the items? It's that cash or account payable?

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is