This means the receiving and the giving of equal value between two or more persons in the form of money or money's worth.
The effect of Transactions on the Account Equation.
- Owner Invested £4,000 Cash and started Business
- Bought a Motor Vehicle for £1,000 cash
- Bought Goods worth £2,500 on Credit from Jason
- Sold Goods worth £1,100 on Credit to Peter
- Deposited £500 Cash into Bank account