Indicate how each event affects the financial statements. Use the following letters to record your answer in the box shown below. If an event increases one account and decreases another account equally within the same element, record I/D. If an event has no impact on the element, record NA. You do not need to enter dollar amounts.
Increase = I Decrease = D Not Affected = NA
On March 1, Year 2, King Co. collected a note receivable and related interest from Havilland Co. The note had been issued one year earlier. Indicate the effects of this event on King's financial statements.

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The Answer of Indicate how each event affects the financial statements. Use the following letters to record your answer in the box shown below. If an event increases one account and decreases another account equally within the same element, record I/D. If an event has no impact on the element, record NA. You do not need to enter dollar amounts.
Increase = I Decrease = D Not Affected = NA
On March 1, Year 2, King Co. collected a note receivable and related interest from Havilland Co. The note had been issued one year earlier. Indicate the effects of this event on King's financial statements.

Indicate How Each Event Affects the Financial Statements