Ultra Day Spa provided $94,400 of services during Year 1. 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

1. Show the credit card sales (Event 1) and the subsequent collection of accounts receivable (Event 2) in a horizontal statements model. In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Leave blank to indicate that an element is not affected by the event.
2. 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?

Ultra Day 5p provided $94,400 of services during Year 1 All customers paid for the services with credit cards. Uara submitted the credit card receipts to the credit card company immediately. The credit card company paid Uara cash in the amount of face value less 32 percent service charge Required a. Show the credit card sales (Event 1) and the subsequent collection of accounts receivable (Event 2) in a horizontal statements: modet in the Statement of Cash Flows column, indicate whether the dem is an operating octivity (OA), investing activity (IA) of financing activity (FA). Leave blank to ind cate that an element is not affected by the event. 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 sows? Complete this question by entering your answers in the tabs below. Show the credit card sales (Event 1) and the subsequent collection of accounts receivable (Fvent 2) is a horizontal statements model. In the seatement of Cash flose column. indicate whether the item is ar operating activity (OA), investing activity (IA); or financing activity (FA). Leave blank to indicate that an element is not affected by the event. (Enter any decreases to account salances and cath outflows wath a minus cign. Round your animers to nearest whole dollac)