Indicate how each event affects the elements of financial statements.Use the following letters to record your answer in the box shown below each element.Use only one letter for each element.You do not need to enter amounts.

-On January 1,2016,Eagle Co.issued $100,000 of bonds payable at the face value.When the bonds matured on December 31,2021,Eagle used cash to repay the bond principal and the interest for one year,which had not been previously accrued.Indicate the effects of the 12/31/21 payment.

Question

Indicate how each event affects the elements of financial statements.Use the following letters to record your answer in the box shown below each element.Use only one letter for each element.You do not need to enter amounts.
 
-On January 1,2016,Eagle Co.issued $100,000 of bonds payable at the face value.When the bonds matured on December 31,2021,Eagle used cash to repay the bond principal and the interest for one year,which had not been previously accrued.Indicate the effects of the 12/31/21 payment.

Quizplus · Accepted Answer

The Answer of Indicate how each event affects the elements of financial statements.Use the following letters to record your answer in the box shown below each element.Use only one letter for each element.You do not need to enter amounts.
 
-On January 1,2016,Eagle Co.issued $100,000 of bonds payable at the face value.When the bonds matured on December 31,2021,Eagle used cash to repay the bond principal and the interest for one year,which had not been previously accrued.Indicate the effects of the 12/31/21 payment.

Indicate How Each Event Affects the Elements of Financial Statements