Business, 21.03.2020 05:36 catdog2230

Forest Beach Company experienced an event that had the following effects on its financial statements.

Balance sheet Income Statement Statement of
Assets = Liab. + Equity Rev. − Exp. = Net Inc. Cash Flows
NA = NA + NA NA − NA = NA + IA

Which of the following events could have caused these effects?

a. Accrued interest revenue.
b. Loaned cash to an employee.
c. Collected cash for the principal balance of a note receivable.
d. Borrowed cash from a bank.

Answers: 3

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Forest Beach Company experienced an event that had the following effects on its financial statements...