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.
Definitions:
Suffering
The experience of pain, distress, or hardship, which can be either physical, emotional, or psychological.
Causal Knowledge
Understanding the relationships between causes and effects.
World is Just
The belief or cognitive bias that the world is fundamentally fair, and that people get what they deserve.
Drinking
The act of consuming liquids; in social contexts, it often refers specifically to the consumption of alcoholic beverages.
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