Suppose your company sells services of $300 in exchange for $195 cash and $105 on account. Depreciation of $125 relating to equipment also is recorded. E12-4 Part 1 Required: 1. Prepare the journal entries to record these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the service revenue of $195 for cash and $105 on account. Suppose your company sells services of $300 in exchange for $195 cash and $105 on account. Depreciation of $125 relating to equipment also is recorded. E12-4 Part 1 Required: 1. Prepare the journal entries to record these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Complete this question by entering your answers in the tabs below. Required 2 Required 3 Required 4 Calculate the amount that should be reported as net income. Net Income Net Income Complete this question by entering your answers in the tabs below. Required 2 Required 3 Required 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 Depreciation Increase in Accounts Receivable Net Cash Flow from Operating Activities | $