Suppose your company sells services of $180 in exchange for $110 cash and $70 on account.

view transaction list view general journal Journal Entry worksheet Record the service revenue of $110 for cash and $70 on account. ransact Debit Credit General Journal Ion *Enter debits before credits ear entr Lrecordentry done identify the amount that should be reported as net cash flow from operating activities. Net Cash low 3. Identify the amount that would be included in net income. et 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 by minus sign.) Net Income Increase in Accounts Receivable Net Cash Flow from Operating 0 Activities