E12-4 (Algo) Understanding the Computation of Cash Flows from Operating Activities (Indirect Method) [LO 12-2] [The following information applies to the questions displayed below.] Suppose your company sells services of $350 in exchange for $220 cash and $130 on account. Depreciation of $150 relating to equipment also is recorded. E12-4 (Algo) Part 1 Required: Prepare the journal entries to record these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the service revenue of $220 for cash and $130 on account. Note: Enter debits before credits. Suppose your company sells services of relating to equipment also is recorded. 12-4 (Algo) Part 1 equired: Prepare the journal entries to record these transactions. (If no entry is required for Required" in the first account field.) Journal entry worksheet Record the depreciation expense of $150. Note; Enter debits before credits