Raylan recelved a $62,000 cash advance payment on June 1, Year 1, for consulting services...
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Raylan recelved a $ cash advance payment on June Year for consulting services to be performed in the future. Services were to be provided for a oneyear term beginning June Year Required a & b Record the June cash recelpt in Taccounts and the adjustment required as of December Year c Show the preceding transaction and related adjustment in a horizontal statements model. d Determine the amount of net income on the Year income statement. What is the amount of net cash flow from operating activities for Year e What amount of liabilities would Raylan report on the Year balance sheet? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Record the June cash receipt in Taccounts and the adjustment required as of December Year Note: Do not round intermediate calculations. Round your answers to the nearest dollar amount. 
Raylan recelved a $ cash advance payment on June Year for consulting services to be performed in the future. Services
were to be provided for a oneyear term beginning June Year
Required
a & b Record the June cash recelpt in Taccounts and the adjustment required as of December Year
c Show the preceding transaction and related adjustment in a horizontal statements model.
d Determine the amount of net income on the Year income statement. What is the amount of net cash flow from operating activities
for Year
e What amount of liabilities would Raylan report on the Year balance sheet?
Answer is complete but not entirely correct.
Complete this question by entering your answers in the tabs below.
Record the June cash receipt in Taccounts and the adjustment required as of December Year
Note: Do not round intermediate calculations. Round your answers to the nearest dollar amount.
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