Assuming that Mr. Salim Abdullah Al Rawahi is running a Retail Mobile Shop in Nizwa. Which of the following transactions will be recorded in his Sales Journal? a. Sold mobiles worth RO 30,000 to Muscat Supplies LLC 2/10, n/30 b. Sold office furnitures worth RO 2500 to Used Furniture Shop LLC c. Sold mobiles worth RO 12,000 to Sohar supplies LLC for cash d. Bought mobiles worth RO 22,000 from Rafa Mobiles LLC Term : 5/10, n/60

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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