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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.

-In preparing the bank reconciliation for Heath Company,an employee discovered an error.A $654 cash receipt for the collection of an account receivable was recorded in the company's books as $645.The deposit slip was correct,and the bank deposit had been correctly prepared.The error appeared only in the company's accounting records.

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Use the following to answer questions
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.
 
-In preparing the bank reconciliation for Heath Company,an employee discovered an error.A $654 cash receipt for the collection of an account receivable was recorded in the company's books as $645.The deposit slip was correct,and the bank deposit had been correctly prepared.The error appeared only in the company's accounting records.

Quizplus · Accepted Answer

The Answer is (N)(N)(N)(N)(N)(N)(I)

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