Indicate how each event affects the financial statements model. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts. 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.Increase = I Decrease = D Not Affected = NAJennings Company makes an adjusting entry to recognize $500 of previously recorded unearned revenue that it has now been earned by providing services to its client during the period.

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The Answer of Indicate how each event affects the financial statements model. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts. 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.Increase = I Decrease = D Not Affected = NAJennings Company makes an adjusting entry to recognize $500 of previously recorded unearned revenue that it has now been earned by providing services to its client during the period.

Indicate How Each Event Affects the Financial Statements Model