but References Mailings Review View Help Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View Enable Editing LO 2-1, 2-3, 2-4 Exercise 2-6B Effect of collecting accounts payable on financial statements Kendall Company carned $20,000 of cash revenue, Kendall Coincurred S10.000 of utility expense on account during Year 1. The company made cash payments of $5.000 to reduce its accounts payable during Year 1 Required Based on this information alone, determine the following for Kendall Company (Hit Record the events in a horizontal financial statements model before satisfying the requirements.) The balance of the accounts payable that would be reported on the December 3 Year I. balance sheet. b. The amount of expenses that would be reported on the Year I income statement. C. The amount of net cash flow from operating activities that would be reported on the Year I ment of cash flows. d. The amount of retained camines that would be reported on the Year 1 balance sheet Why are the answers to Requirements and different PISC ent e Search rences Mailings Review View Help contain viruses. Unless you need to edit, it's safer to stay in Protected View Enable Editing EXERCISE 26B (cont.) Kendall Company Horizontal Statements Model for Year 1 Income Statement Revenue Expense Net Inc. Statement of Cash Flows Balance Sheet - Liab. - Stockholders' Equity Accts, Common Retained -Payable + Stock Earnings Cash + Rec LIFAB_10_CHO_Working Papers (1) - Protected View - Saved ferences Mailings Review View Help contaviruses. Unless you need to edit, it's safer to stay in Protected View Enable Editing LO 24, 2-3, 2-4 Exercise 2-6B Effect of collecting accounts payable on financial statements Kendall Company cared $20,000 of cash revenue. Kendall Co. incurred $10,000 of utility expense on account during Your I. The company made cash payments of $5,000 to reduce its accounts payable during Year Required Based on this information alone, determine the following for Kendall Company. (Hit Record the cvents in a horizontal financial statements model before satisfying the requirements.) . The balance of the accounts payable that would be reported on the December 31, Year 1, balance sheet. b. The amount of expenses that would be reported on the Year I income statement. c. The amount of net cash flow from operating activities that would be reported on the Year I state ment of cash flows d. The amount of retained carnings that would be reported on the Year 1 balance sheet Why are the answers to Requirements and different