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2 Homework Help Save & Exit Submit Check my work Holloway Company earn receivable during Year 1. $10,000 of service revenue on account during Year 1. The company collected $8.500 cash from accounts Required Based on this information alone determine the following for Holloway Company (Hint: Record the events in general ledger accounts under an accounting equation before satisfying the requirements. (Enter any decreases to account balances with a mincs sian) a. The balance of the accounts receivable that would be reported on the December 31, Year 1, balance sheet. b. The amount of net income that would be reported on the Year 1 income statement. c. The amount of net cash flow from operating activities that would be reported on the Year 1 statement of cash flows. d. The amount of retained earnings that would be reported on the Year 1 balance sheet. Complete this question by entering your answers in the tabs below. Accounting Reg A to D Equation Based on this information alone, determine the following for Holloway Company. (Hint: Record the events in general ledger accounts under an accounting equation before satisfying the requirements.) (Enter any decreases to account balances with a minus sign.) HOLLOWAY COMPANY Effect of Events on the Year 1 Accounting Equation Assets - Liabilities Accounts Cash + Stockholders' Equity Common Retained Event Prey 1 of 9 Next > Help Save & Accounting Equatio Reg A to D Based on th under an ac o rmation alone, determine the following for Holloway Company. (Hint: Record the ever ting equation before satisfying the requirements. (Enter any decreases to account Event HOLLOWAY COMPANY Effect of Events on the Year 1 Accounting Equation Assets Liabilities + Cash Accounts Receivable 10,000 + 8,500 18,500 + Stockholders' Equity Common Rained Stock 0 + 18,500 Earned Avenue Collected accounts receivable Ending balance 0 + 18,500 Reg A to D > Prey 1 of 9 !! Next > The amount of net income that would be reported on the Year 1 income statement The amount of net cash flow from operating activities that would be reported on the Year 1 stater d. The amount of retained earnings that would be reported on the Year 1 balance sheet 10 points Co plete this question by entering your answers in the tabs below. eBook Account Equation Reg A to D Print References a. Accounts receivable b. Net income c. Net cash flow from operating activities d. Retained earnings MC Graw Hill

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