Exercise 7.13A (Algo) Effect of credit card sales on financial statements LO 7.6 Uitra Day Spa provided $92,900 of services duning Year 1. All customers poid for the services with credit cards. Ultra submitted the credit card recelpts to the credit card company immediately. The credit card company paid Ulira cash in the amount of face value less a 3 percent service charge. Required a. Show the credit card sales (Event t) and the subsequent collection of accounts receivable (Event 2) in a horizontal statements model, In the Statement of Cash Flows coluntn, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Leave blank to indicate that an element is not affected by the event. b. Based on this information alone, answer the following questions: (1) What is the amount of total assets at the end of the accounting period? (2) What is the amount of revenue reported on the income statement? (3) What is the amount of cash flow from operating activities reported on the statement of cash flows? Complete this question by entering your answers in the tabs below. Shaw the credit card tales (Event 1) and the wubsequent collection of accounts receivable (Event 2) in a horizontal statements model. In the Statement of Cash flows column, indicate whether the item is an operating activity (OA), investing activity (IA), or francing activity (FA), Leave blank to indicate that an element is not affected by the event. (finter any decreases to account balances and cash outfowi with a minus aign. flound your answers to nearest whole dollar.) Exercise 7-13A (Algo) Effect of credit card sales on financial statements LO 7.6 Ultra Day Spa provided $92,900 of services during Year 1. All customers paid for the services with credit cards. Ultra submitted the credit card receipts to the credit card company immediately. The credit card company paid Uitra cash in the amount of face value les: a 3 percent service charge. Required a. Show the credit card sales (Event 1) and the subsequent collection of accounts receivable (Event 2) in a horizontal statements model. In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA). investing activity (IA), or financing activity (FA). Leave blank to indicate that an element is not affected by the event b. Based on this information alone, answer the following questions: (1) What is the amount of total assets at the end of the accounting period? (2) What is the amount of revenue reported on the income statement? (3) What is the amount of cash flow from operating activities reported on the statement of cash flows? Complete this question by entering your answers in the tabs below. Based on this information alone, answer the following questions: (1) What is the amount of total assets at the end of the accounting period? (2) What is the amount of revenue reported on the income statement? (3) What is the amount of cash flow from operating activities reported on the statement of cash flows? (Round your answers to nearest whole dollar.)