D Question 23 3 pts In each of the seven dropdown boxes, indicate how each event affects the elements of financial statements (as an Increase, Decrease, or No impact). For the Equity assessment, consider the impact AFTER the closing entries have been made. For the assessment of Income Statement accounts, consider the impact BEFORE the closing entries have been made Use the following letters (1,D or N) to record your response in each box. It is possible to have a response of "D" as a response. Do not leave any box blank. 23. An adjusting entry recorded as a debit to Prepaid Insurance and a credit to Cash Assets D 1 Liabilities Equity Select Revenue Select) Expense Select Net Income Select Cash D