Indicate How Each Event Affects the Elements of Financial Statements

question 88

Essay

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.

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Definitions:

Motivating Behavior

The factors or incentives that drive an individual to act or behave in a certain way.

Innate Motivators

Internal drives that exist from birth, influencing behavior without the need for external rewards.

Latent Learning

Learning that occurs without any obvious reinforcement of the behavior or associations that are learned.

Reinforcement

In behavioral psychology, a process in which a behavior is strengthened by the consequence that follows it, making it more likely to be repeated.