Holloway Company earned $$6,900$ of service revenue on account during Year $1.$ The company collected $$5,865$ cash from accounts

receivable 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 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.

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