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

-On March 1,2016,King Co.collected a note receivable and related interest from Havilland Co.The note had been issued one year earlier.Indicate the effects of this event on the elements of King's financial statements.