Teuil caru receipts to the credit card company immediately. The creo Caru company paid Vila Casn in the amount or lace value less - 2 percent service charge. Required 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. . Based on this information alone, answer the following questions: (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? Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Record the credit card sales and the subsequent collection of accounts receivable in a horizontal statements model like the one shown here. In the Cast 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 cel require entry. Enter any decreases to account balances with a minus sign.) ULTRA DAY SPA Horizontal Statements Model Assets Balance Sheet Llab Acct. Rec. + Income Statement Event Cash 90,062 90.062 Equity Ret. Ear 1 Revenue 2. 91,94 Expense 1.838 Cash Flows + Net Income 90,082 90.062 90,062 Exercise 5-14 Effect of credit card sales on financial statements LO 5-5 Ultra Day Spa provided $91,900 of services during 2018. All customers paid for the services with credit cards. Ultra submitted the credit card receipts to the credit card company immediately. The credit card company paid Ultra cash in the amount of face value less a 2 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 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? Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B 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, ind 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. (Not ever require entry, Enter any decreases to account balances with a minus sign.) ULTRA DAY SPA Horizontal Statements Model Balance Sheet Lab Income Statement Assets Eu
