Indicate How Each Event Affects the Elements of Financial Statements $$\text { Increase } = \mathrm { I } \text { Decrease } = \mathrm { D } \text { No Effect } = \mathrm { N }$$

Short Answer

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. $$\text { Increase } = \mathrm { I } \text { Decrease } = \mathrm { D } \text { No Effect } = \mathrm { N }$$
On September 30, 2014, Falls Company collected the principal on a one-year note receivable dated October 1, 2011. Show the effect of the collection of the principal on Falls' financial statements.