3. Collected $90,000 cash from accounts recelvable. 4. Loaned $13,000 to Mosby Company on November 30,...

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3. Collected $90,000 cash from accounts recelvable. 4. Loaned $13,000 to Mosby Company on November 30, Year 1. The note had a one-year term to maturty and a 6 percent interest rate. 5. Pald $34.000 of salartes expense for the year. 6. Pald a $3,500 dividend to the stockholders. 7. Recorded the accrued Interest on December 31, Year 1 (see Item 4). 8. Determined that $680 of accounts receivable were uncollectible. Hooper Company uses the direct write-off method. Required a. Record the above transactions in general Journal form. b. Post the entries to T-accounts. C Prepare the Income statement, balance sheet, and statement of cash flows for Year 1. d. Show the effects of the above transactions In a hortzontal statements model. When you record amounts in the Statement of Cash Flows column, Indicate whether the Item Is an operating activity (OA), Investing activity (IA). financing activity (FA). or net change (NQ. Leave blank to Indicate that an element is not affected by the event. Complete this question by entering your answers in the tabs below. Req A Reg B Reg Ci Rea C2 Reg C3 Reg b Prepare the income statement for Year 1. HOOPER COMPANY Income Statement For the Year Ended Year 1 Service revenue Operating expenses Salarnes expense Uncollectible accounts expense $ 34.000 680 34.680 (34,080) Total operating expenses Net operating income Non-Operating Items 05 Interest revenue S (34,015) Net income < Prev 13 of 16 Ne 3. Collected $90,000 cash from accounts recelvable. 4. Loaned $13,000 to Mosby Company on November 30, Year 1. The note had a one-year term to maturty and a 6 percent interest rate. 5. Pald $34.000 of salartes expense for the year. 6. Pald a $3,500 dividend to the stockholders. 7. Recorded the accrued Interest on December 31, Year 1 (see Item 4). 8. Determined that $680 of accounts receivable were uncollectible. Hooper Company uses the direct write-off method. Required a. Record the above transactions in general Journal form. b. Post the entries to T-accounts. C Prepare the Income statement, balance sheet, and statement of cash flows for Year 1. d. Show the effects of the above transactions In a hortzontal statements model. When you record amounts in the Statement of Cash Flows column, Indicate whether the Item Is an operating activity (OA), Investing activity (IA). financing activity (FA). or net change (NQ. Leave blank to Indicate that an element is not affected by the event. Complete this question by entering your answers in the tabs below. Req A Reg B Reg Ci Rea C2 Reg C3 Reg b Prepare the income statement for Year 1. HOOPER COMPANY Income Statement For the Year Ended Year 1 Service revenue Operating expenses Salarnes expense Uncollectible accounts expense $ 34.000 680 34.680 (34,080) Total operating expenses Net operating income Non-Operating Items 05 Interest revenue S (34,015) Net income < Prev 13 of 16 Ne

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A B 1 Income Statement 2 Service Revenue 104000 3 Ope... View the full answer