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question issued 60 000 of common stock for cash provided 74 000 of services on accou 4279209

Question

issued $60,000 of common stock for cash. Provided $74.000 of services on account Collected $62000 cash from accounts receMable. 4 Lonned $15,000 to Horne Co. on october 2014. The note had a one-year term to maturity and an 8 5. Paid $4Tooo of salaries expense for the year. 6. Pald a $2,500 dividend to the stockholders. Recorded the accrued Interest on December 31, 2014 (see Item 4) Uncollectible accounts expense ls estimated to be 1 percent of seMoe revenue on account. 1500 points Required a. Show the effects of the above transactions in a horizontal statements model like the one shown below. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (Al, a financing activity (FA) and net change in cash (NC). The letters NA indicate that an elenment is not affected by the event. (Enter any decreases to account balances and cash outflows with a minus sign.) Horizontal Statements Model Equity Income Statement -niowance for Doubtful Receivable Receivable Earnings Revenue Expense Net Inco Receivable

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