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 amounts.
Increase = I Decrease = DNot Affected = NA
A transaction recorded as a debit to Furniture and a credit to Cash.

Question

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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 amounts.
Increase = I Decrease = DNot Affected = NA
A transaction recorded as a debit to Furniture and a credit to Cash.

Indicate How Each Event Affects the Financial Statements