CHAPTER 5 Homework 6 Help Save & Exit 5 Exercise 5-14 Effect of credit card sales on financial statements LO 5-5 0.66 points Ultra Day Spa provided $88,800 of services during 2018. 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 3 percent service charge. eook Required a. Record the credit card sales and the subsequent collection of accounts receivable in a horizontal statements model like the one shown here. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Use NA to indicate that an element is not affected by the event Referencesb. 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? Complete this question by entering your answers in the tabs below. Based on this information alone, answer the (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? questions: (Round your answer to nearest whole dollar.) K Prev 5 of 12 EE Next > 14