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 December 31,2016,Ravenwood Company made an annual payment on a long-term installment note payable.Show how this annual payment affected Ravenwood's financial statements.

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 December 31,2016,Ravenwood Company made an annual payment on a long-term installment note payable.Show how this annual payment affected Ravenwood's financial statements.

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 December 31,2016,Ravenwood Company made an annual payment on a long-term installment note payable.Show how this annual payment affected Ravenwood's financial statements.

Indicate How Each Event Affects the Elements of Financial Statements