The following information is for the year ended December 31, 2021. The company only has one liability, Accounts Payable. Cash 80,000 Accounts Receivable 30,000 Equipment 100,000 Accounts Payable ? Common Stock 60,000 Ending Retained Earnings 80,000 Using your knowledge, and the accounting equation, what is the amount of Accounts 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