Clark Bell started a personal financial planning business when he accepted $$36,000$ cash as advance payment for managing the financial assets of a large estate. Bell agreed to manage the estate for a one$-$year period beginning June $1,$ Year $1.$

Required:

a$.$ Show the effects of the advance payment and revenue recognition on the Year $1$ financial statements using a horizontal statements model given below. In the Statement of Cash Flows column, use OA to designate operating activity, IA for investing activity, FA for financing activity, and $NC$ for net change in cash.