After reconciling its bank account, Ross Equipment Company made the following adjusting entries:

Required
Identify the event depicted in each journal entry as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE). Also explain how each entry affects the accounting equation by placing a + for increase, €“ for decrease, or NA for not affected under the following components of the accounting equation.

The first event is recorded as anexample.

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Entry No Account Titles Debit Credit Accounts Receivable 250 Cash 250 To record NSF check from Wilson Rent Expense 35 Cash 35 To correct understatement of expense Service Charge Expense 15 Cash 15 To record bank service charge Cash 175 Accounts Receivable 175 To record bank collection Cash 40 Interest Revenue 40 To record interest revenue Stockholders' Equity Retained No. Event Assets = Liabilities+ Stock + Earnings Event Type of Common AE +/- NA NA NA