Exercise 7-13A Effect of credit card sales on financial statements Lo 7-6 ultra Day Spa provided $86,000 of services during 2016. All customers paid for the with credit cards. Ultra submitted the credit card receipts to the credit card company immediately The credit card company paid ultra cash in the amount of face value less a 1.20 percent service charge. Required in a horizontal statements model like the one shown here. In the Cash Flow column, indicate whether the item is an operating activity investing activity (IA), financing activity (FA) Use NA to indicate that an element is not affected by the event. (Enter any decreases to account balances with a minus sign. Round your answers to nearest whole dollar.) ULTRA DAY SPA Horizontal statemeit Model Balance Sheet Income Statement Liab Ret. Ear l Revenue H Expense Net Income