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.You do not need to enter amounts.Enter only one letter for each element.

-On April 1,2017,Jenkins Company repaid a $20,000,one-year,6% note and interest to Community Bank.Interest on the note had been accrued on December 31,2016.

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.You do not need to enter amounts.Enter only one letter for each element.
 
-On April 1,2017,Jenkins Company repaid a $20,000,one-year,6% note and interest to Community Bank.Interest on the note had been accrued on December 31,2016.

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.You do not need to enter amounts.Enter only one letter for each element.
 
-On April 1,2017,Jenkins Company repaid a $20,000,one-year,6% note and interest to Community Bank.Interest on the note had been accrued on December 31,2016.

Indicate How Each Event Affects the Elements of Financial Statements