QUESTION 2 (20 marks) ElectroShop Ltd. is a leading retailer of electronics in Cape Town. The company offers a wide range of electronics, from televisions to laptops. ElectroShop Ltd. has a financial yearend of 31 August 2024. The following are the transactions for the month of April 2024: 1. ElectroShop procured 100 televisions at R5 000 each on credit. However, the company received a 10% discount for the bulk purchase from the supplier 2 ElectroShop ran a promotion and sold 50 televisions for R7 000 each in cash. The cost of each television inventory item is R5 500. 3. ElectroShop decided to lease a new store space. They paid rent for 6 months in advance at R25 000 per month. The new store space will only be available from 1 July 2024 4. ElectroShop received an electricity bill of R33 000 for February 2024, of which 10% constitutes interest charges for surpassing the agreed payment period. The company paid the full amount on 30 April 2024 5. ElectroShop eamed an interest of 4% on their fixed deposit of R500 000 for the month of April 2024 6. Wages and salaries for the month amounted to R300 000, but only 90% has been paid. The rest will be paid next month, 7 ElectroShop sold 20 laptops on credit for R10 000 each. The cost of each laptop is R7 300.

QUESTION:
By using the accounting equation, record transactions 1-7 for ElectronShop Ltd.for April 2024. Indicate the impact of each transaction, by showing whether the element has increased or decreased. Show all calculations & use the below format to structure your answer​