Pater Service Compamy does make a fewr syes on account but is mostly a cash businers Consequenty ituses the drea write om isethod to occount for uncoliecbble accounte During year I Pater Service Company eaved 535000 of cash revenue and 54500 on Stebhens, the account was determined to be uncallectubie in wear. Pequired: 4. show the efects of it cash ievenue, (2) revenoe on account, 13) cash expeoses, and (4) wite om of the uncolectibie account on the eperating activis (DA), invecting activity (LA), or frinancing activiy (FA) b. What amount of net incoroe ad Pateit service Compary repot on the vea 7 income raternent? Cemblete this question by enterieg vour answers in the tabs below. model. Patel Service Company does make a few sales on account but is mostly a cash business. Consequently, it uses the direct wite-off method to account for uncollectible accounts. During Year 1, Patei Service Company eamed 535,000 af cash revenue and $4,500 of revenue on account Cash operating expenses were $19,000 Ater numerous atfempts to coliect a $120 account recelvabie from Sam Stephens, the account was determined to be uncollectiole in year 1. Requlred: 0. Show the effects of (1) cash revenue, (2) revenue on account, (3) cash expenses, and (4) write off of the uncollectible account on the financlai statements using a horizontal statements model in the Statement of Cash Flows column. indicate whether the item is an. operating activity (OA), investing activity (A), or financing activity (FA) b. What amount of net income did Patei Service Company report on the Year 1 income statement? Complete this question by entering your answers in the tabs below. What amount of net income did Patel Service Company report on the Year 1 income statement