1. Your Company completed a job that it billed at $20.000. What is the effect of this entry ONLY on the following items for the company? Net Income Cash Flow from | Operating Activities Increase No effect No effect No effect Increase Increase No effect Increase B. C. D. Your Company began the accounting period with a $12,000 normal balance in its accounts receivable account. During the accounting period, the company recorded revenue on account amounting to $54,000. The accounts receivable account at the end of the accounting period showed a $20,000 debit balance. How much cash was collected from accounts receivable during the period? A. $ 62,000 B. $ 46,000 C. $ 42,000 D. $ 34,000 E. $8,000