What is the Gross Profit of Phiya Company for the month of April 30, 2020 by using Accrual method of Accounts. Cash received on sales - 100000 Selling expenses - 2000 Marketing expense - 4000 Cost of goods sold - 66000 Goods sold on credit - 25000

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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