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. 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. Enter only one letter for each element.Increase = I Decrease = D Not Affected = NAIn preparing the bank reconciliation for Heath Company, an employee discovered that the bank had collected one of the company's notes receivable in the amount of $20,000 and had deposited this amount in the company's account at the bank. This amount does not include interest.

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The Answer of 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. 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. Enter only one letter for each element.Increase = I Decrease = D Not Affected = NAIn preparing the bank reconciliation for Heath Company, an employee discovered that the bank had collected one of the company's notes receivable in the amount of $20,000 and had deposited this amount in the company's account at the bank. This amount does not include interest.

Indicate How Each Event Affects the Elements of Financial Statements