Triplett Services Co. experienced the following events in 2013:
1. Provided services on account.
2. Collected cash for accounts receivable.
3. Attempted to collect an account and, when unsuccessful, wrote the amount off to uncollectible accounts expense.
Required:
Show the effect of each event on the elements of the financial statements, using a horizontal statements model like the one shown here. Use the following coding scheme to record your answers: increase is +, decrease is - , not affected is NA.
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In the cash flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity(FA).