Post to the following accounts in the general ledger .the opening balances /totals are provided in brackets. Trading Stock Debtors control Sales Cost of Sales Debtors Allowances Discount Allowed R 45 762 R35 599 R 78 872 R 52 500 R4 658. R 3 298

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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