Indicate How Each Event Affects the Elements of Financial Statements $$\text { Increase } = \mathrm { I } \quad\text { Decrease } = \mathrm { D } \quad\text { No Effect } = \mathrm { N }$$

question 134

Short Answer

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. $$\text { Increase } = \mathrm { I } \quad\text { Decrease } = \mathrm { D } \quad\text { No Effect } = \mathrm { N }$$
Hardin Company collected a receivable due from a credit card company (from a sale to a customer who paid with a credit card). Show the effect of collection of the credit card receivable on Ulmer's financial statements.

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Definitions:

James-Lange Theory

A theory of emotion suggesting that emotions occur as a result of physiological reactions to events.

Cannon-Bard Theory

A theory of emotion that proposes emotions and bodily reactions occur simultaneously and independently of one another.

Adoptive Parents

Individuals who legally take on the responsibility of raising a child who is not biologically their own.

Biological Parents

The individuals from whom one inherits their genetic material; also known as birth parents.