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Hart, Attorney at Law, experienced the following transactions in Year 1 , the first year of operations: 1. Accepted $36,000 on April 1, Year 1,

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Hart, Attorney at Law, experienced the following transactions in Year 1 , the first year of operations: 1. Accepted $36,000 on April 1, Year 1, as a retainer for services to be performed evenly over the next 12 months. 2. Perlormed legal services for cash of $54,000. 3. Purchased $2,800 of office supplies on account. 4. Paid $2,400 of the amount due on accounts payable. 5. Paid a cash dividend to the stockholders of $5,000. 6. Paid cash for operating expenses of $31,000. 7. Determined that at the end of the accounting period $200 of office supplies remained on hand. 8. On December 31, Year 1, recognized the revenue that had been earned for services performed in accordance with Transaction 1. Required Show the effects of the events on the financial statements using the following horizontal statements model. In the Cash Flows column, use OA to designate operating activity, FA for financing activity. IA for investing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank. The first event has been recorded as an example. (Do not round intermediate calculations. Enter any decreases to account balances and cash outflows with a minus sign. Not all cells will require entry.) Check my work mode : This shows what ls correct or incorrect for the work you have completed so far. it does not inalieate completion. 12 Answer is not complete. Prey 12 of 13 fili Noxt

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