Suppose your company sellis services of $280 in exchange for S160 cash and 5120 on account. Required: 1. Prepare the journal entry to record this transaction. (If no entry is required for a transactionlevent, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the service revenue of $160 for cash and $120 on account. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 2. Identify the amount that should be reported as net cash flow from operating activities. Net Cash Flow 3. Identify the amount that would be included in net income. Net Income 4. Show how the indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2). (Amounts to be deducted should be indicated with a minus sign.) Net Income Increase in Accounts Receivable Net Cash Flow from Operating Activities $ 0