Exercise 2-1A (Algo) Effect of collecting accounts receivable on the accounting equation and financial statements LO 2-1 Holloway Company earned $9,100 of service revenue on account during Year 1. The company collected $7,735 cash from accounts receivable during Year 1. Required Based on this information alone, determine the following for Holloway Company. a. The balance of the accounts receivable that would be reported on the December 31, Year 1, balance sheet. b. The amount of net income that would be reported on the Year 1 income statement. c. The amount of net cash flow from operating activities that would be reported on the Year 1 statement of cash flows. d. The amount of retained earnings that would be reported on the Year 1 balance sheet. Complete this question by entering your answers in the tabs below. Accounting Equation Req A to D Based on this information alone, determine the following for Holloway Company. (Not all cells require input. Enter any decreases to account balances with a minus sign.) HOLLOWAY COMPANY Effect of Events on the Year 1 Accounting Equation Event Eamed revenue Collected accounts receivable Ending balance Assets Cash Accounts Receivable Liabilities Stockholders' Equity Common Retained Stock Earnings < Previ 1 of 10 Next >