Indicate How Each Event Affects the Financial Statements

question 69

Essay

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.

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