Essay
Indicate how each event affects the 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 dollar amounts.
Increase = I Decrease = D Not Affected = NA
At Landau Company, the petty cash custodian used petty cash to pay for postage charges.
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There is no effect on the financial sta...View Answer
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