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pls fast 8 Problem: Module 2 Textbook Problem 8 Learning Objective: 26 Show how accounting for credit card sales affects financial statements Ulva Day Spa
pls fast 8 Problem: Module 2 Textbook Problem 8 Learning Objective: 26 Show how accounting for credit card sales affects financial statements Ulva Day Spa provided $92.700 of services during Year 1. All customers paid for the services with credit cards. Uitra submitted the credit card receipts to the credit cord company immediately. The credit card company paid Uitra cash in the amount of face value less a 1 percent service charge. Required a. Record the credit card sales and the subsequent collection of accounts receivable in a horizontal statements model like the one shown here. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element is not affected by the event, leave the cell blank. b. Based on this information alone. answer the following questions: (1) What is the amount of total assets at the Lnd of the accounting period? (2) What is the amount of tevenue reported on the income statement? (3) What is the amount of cash flow from operating activities reported on the statement of cash flows? Record the credit card sales and the subsequent collection of accounts recelvable in a horizontal statements model like the one shown here. In thy whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element is not affected by the event, leave t intermediate values. Round your final answers to the nearest whole dollar. Not every cell will require entry. Enter any decreases to account balane (3) What is the amount of cash flow from operating activities reported on the statement of cash flows? Complete this question by entering your answers in the tabs below. Based on this information alone, answer the following questions: (Do not round intermediate values. Round your answer to nearest whole dollar.) (1) What is the amount of total assets at the end of the accounting period? (2) What is the amount of revenue reported on the income statement? (3) What is the amount of cash flow from operating activities reported on the statement of cash flows
pls fast 8
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