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Indicate How Each Event Affects the Elements of Financial Statements

Question 18

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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.
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. -On December 31,2016,Warren Co.accrued $625 of interest on a $25,000 note it had issued from the National Bank on July 1,2016.The principal and interest on the note are to be repaid on June 30,2017.How would Warrens's year-end adjustment to accrue the interest on the loan affect its financial statements for 2016?
-On December 31,2016,Warren Co.accrued $625 of interest on a $25,000 note it had issued from the National Bank on July 1,2016.The principal and interest on the note are to be repaid on June 30,2017.How would Warrens's year-end adjustment to accrue the interest on the loan affect its financial statements for 2016?
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. -On December 31,2016,Warren Co.accrued $625 of interest on a $25,000 note it had issued from the National Bank on July 1,2016.The principal and interest on the note are to be repaid on June 30,2017.How would Warrens's year-end adjustment to accrue the interest on the loan affect its financial statements for 2016?

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