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Holloway Company earned $4,600 of service revenue on account during Year 1 . The company collected $3,910 cash from accounts recelvable during Year 1. Required:
Holloway Company earned $4,600 of service revenue on account during Year 1 . The company collected $3,910 cash from accounts recelvable during Year 1. Required: Based on this information alone, determine the following for Holloway Company. (Hint: Record the events in general ledger accounts under an accounting equation before satisfying the requirements.) a. The balance of the accounts recelvable 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 Dear 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. Based on this information alone, determine the following for Holloway Company. (Hint: Record the events in general ledger accounts under an accounting equation before satisfying the requirements.) Note: Not all celts require input. Enter any decreases to account balances with a minus sign
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