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.

-Pearl Company sold merchandise to a customer for $800 cash in a state where the sales tax rate is 5%.(Ignore the effect of cost of goods sold. )

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.
 
-Pearl Company sold merchandise to a customer for $800 cash in a state where the sales tax rate is 5%.(Ignore the effect of cost of goods sold. )

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.
 
-Pearl Company sold merchandise to a customer for $800 cash in a state where the sales tax rate is 5%.(Ignore the effect of cost of goods sold. )

Indicate How Each Event Affects the Elements of Financial Statements