Indicate How Each Event Affects the Elements of Financial Statements

Essay

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.Use only one letter for each element.You do not need to enter amounts.

-On December 31,2016,Briand Co.paid cash for interest on bonds it had issued on January 1,2016 at 98,and amortized part of the discount on bonds.Briand Co.uses the straight-line method of amortizing bond discounts.Indicate the effects of the amortization of the discount only.