Indicate basic debit–credit analysis.LO4 Dudley Advertising Ltd had the following transactions during August of the current year. Indicate (a) the basic analysis and (b) the debit–credit analysis. Aug. 1 Issued shares to investors in exchange for $15 000 cash.   4 Paid insurance in advance for 6 months, $1800.   16 Received $9000 from clients for services rendered.   27 Paid secretary $500 salary.                 Use the data in previous question and journalise the transactions. (Include narrations.)

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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