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Please help complete the horizontal statement models a. Performed $24,700 of services on account. b. Collected $16,100 cash on accounts receivable. c. Paid $4,100 cash
Please help complete the horizontal statement models
a. Performed $24,700 of services on account. b. Collected $16,100 cash on accounts receivable. c. Paid $4,100 cash in advance for an insurance policy. d. Paid $1,120 on accounts payable. e. Recorded the adjusting entry to recognize $3,800 of insurance expense. f. Received $7,100 cash for services to be performed at a later date. g. Purchased land for $1,600 cash. h. Purchased supplies for $1,300 cash. Show the effect of the transaction in a horizontal statements model. The first transaction is shown as an example. Note: Enter any decreases to account balances and cash outflows with a minus sign. In the Statement of Cash Flows column, use OA to designate operating activity, IA for investment activity, FA for financing activity, and NC for net change in cash. Not all cells require inputStep by Step Solution
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