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

-Gilliam Co.repaid a note payable on September 30,2016.The 8-month note had been issued on February 1,2016.The $20,800 cash payment included a $20,000 repayment of principal and an $800 payment for interest.