Arvind has the following transactions. Use accounting equation to show their effect on his assets, liabilities and capital :(1) Commenced business with cash 3 90,000 and bank balance 40,000.(1) Travelling expenses paid by cheque 3 7,500(ii) Salary due but not paid 35,500(iv) Rent paid for next year by cheque # 6,000(v) Interest received 12,000(vi) Interest due but not received 8,000(vii) Commission received in advance for next year 9,000Hint : Any expense due or any income received in advance are the liabilities and any expensepre-paid or any income accrued (due but not received) are the assets.​

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