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Holloway Company started operations on January 1, Year 1. During Year 1, Holloway earned $5,400 of service revenue and collected $4,590 cash from accounts receivable.

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Holloway Company started operations on January 1, Year 1. During Year 1, Holloway earned $5,400 of service revenue and collected $4,590 cash from accounts receivable. Required Based on this information alone, determine the following for Holloway Company. (Hint Record the events in a horizontal financial statements model before satisfying the requirements.) (Enter any decreases to account balances with a minus sign.) Cash - HOLLOWAY COMPANY Effect of Events on the Year 1 Horizontal Financial Statements Assets - Liabilities + Stockholders' Equity Event Accounts Common Retained Earnings Eamed revenue Collected accounts receivable 00+ Ending balance Receivable Stock 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 Not income points 8 046728 eBook C. The amount of net cash flow from operating activities that would be reported on the Year 1 statement of cash flows. Print References Net cash flow from operating activities d. The amount of retained earnings that would be reported on the Year 1 balance sheet. Retained earnings

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