Indicate how each event affects the financial statements. Use the following letters to record your answer in the box shown below each element. 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 dollar amounts.
Increase = I Decrease = D Not Affected = NA
In preparing the bank reconciliation for Heath Company, an employee discovered that the bank had collected one of the company's accounts receivable in the amount of $20,000.
Definitions:
Informative Message
A communication intended to provide necessary information about a particular topic or subject to the recipient.
Direct Message
A private form of communication between social media users that is not visible to the public.
Underlying Purpose
The fundamental reason or motive that is not immediately obvious, driving actions or goals.
Negative Elements
Components or aspects of a situation, document, or product that detract from its overall quality or effectiveness.
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