If the balance in Pirate Landing's capital account on Oct. 1 was $56,000, and there were $7,900 decreases in the capital account during the month, how much did Pirate Pete invest in the company during the month if the Oct. 31 account balance is $49,600?   Please donot provide answer in image format and it should be in step by step format and provide solution asa

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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