Exercise 7-13A Effect of credit card sales on financial statements LO 7-6 71 Uitra Day Spa provided $120,000 of services during Year 1 Al customers paid for the services with credit cards. Uitra 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 5 percent service charge Required 3. Show the credit card sales (Event and the subsequent collection of accounts receivable (Event in a horizontal statements model like the one shown next in the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity Alor financing activity FA. Use NA to indicate that an element is not affected by the event. (Enter any decreases to account balances with aminus sont Book ULTRA DAY SPA Mortatement Model Balance Shen TY Relat Aceta fuerant of Cash Flow Reven at income 1 2 Print b. Based on this information alone, answer the following questions: References (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? (1) Total assets (2) Revenue recognized (3) Cash flow from operating activities