Indicate How Each Event Affects the Horizontal Financial Statements Model

Indicate how each event affects the horizontal financial statements model. Use the following letters to record your answer in the box shown below. 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 amounts.Increase = IDecrease = DNot Affected = NAThe Greer Company purchased equipment on account on January 1, Year 1. Show how the purchase affected the financial statements of Year 1.