Holloway Company earned $$6,400$ of service revenue on account during Year $1.$ The company collected $$5,440$ cash from accounts receivable during Year $1.$

Required:Holloway Company earned $$6\mathrm{.}400$ of service revenue on account during Year $1.$ The company collected $$5\mathrm{.}440$ cash from accounts

receivable during Year $1.$

Requlred:

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 receivable 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 Year $1$ 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.

Req $A$ to $D$

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 cells require input. Enter any decreases to account balances with a minus sign.

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.$)$

The balance of the accounts receivable that would be reported on the December $31,$ Year $1,$ balance sheet.

The amount of net income that would be reported on the Year $1$ income statement.

The amount of net cash flow from operating activities that would be reported on the Year $1$ statement of cash flows.

The amount of retained earnings that would be reported on the Year $1$ balance sheet.