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Indicate How Each Event Affects the Elements of Financial Statements

Question 59

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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 October 1,2015,Kramer Co.issued a one-year discount note with a face value of $100,000 and interest of 6% to the North Star Bank and received cash in the amount of $94,000.
-On October 1,2015,Kramer Co.issued a one-year discount note with a face value of $100,000 and interest of 6% to the North Star Bank and received cash in the amount of $94,000.
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 October 1,2015,Kramer Co.issued a one-year discount note with a face value of $100,000 and interest of 6% to the North Star Bank and received cash in the amount of $94,000.

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