1 Rosie Dry Cleaning was started on January 1, Year 1. It experienced the following events during its first two years of operation. Events Affecting Year 1 3.33 ints 1. Provided $31,260 of cleaning services on account 2. Collected $25,008 cash from accounts receivable. 3. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account. cBook Print Events Affecting Year 2 1. Wrote off a $234 account receivable that was determined to be uncollectible. 2. Provided $36,480 of cleaning services on account. 3. Collected $32,285 cash from accounts receivable. 4. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account TA References Required a. Record the events for Year 1 and Year 2 (including closing entries for Year 1) in T-accounts. b. Determine the following amounts: (1) Net income for Year 1. (2) Net cash flow from operating activities for Year 1. (3) Balance of accounts receivable at the end of Year 1. (4) Net realizable value of accounts receivable at the end of Year 1. c. Repeat Requirement b for the Year 2 accounting period. Complete this question by entering your answers in the tabs below. Required A Required B Required Record the events for Year 1 and Year 2 (including closing entries for Year 1) in T-accounts. (Round your answers to nearest whole dollar.) 2 (1.) Cash Retained Earnings Year 1 Beg Bal End. Bal. Bal Year 2 End. Bal. Accounts Receivable Service Revenue Year 1 Year 1 Bal Bal Year 2 Year 2 End. Bal. End. Bal. Allowance for Doubtful Accounts Uncollectible Accounts Expense Year 1 Year 1 Bal Bal Year 2 Year 2 End. Bal. End. Bal. (Required A Required B > 1 3.33 Dints Rosie Dry Cleaning was started on January 1, Year 1. It experienced the following events during its first two years of operation. Events Affecting Year 1 1. Provided $31,260 of cleaning services on account. 2. Collected $25,008 cash from accounts receivable. 3. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account cBook Print 0 0 Events Affecting Year 2 1. Wrote off a $234 account receivable that was determined to be uncollectible. 2. Provided $36,480 of cleaning services on account. 3. Collected $32,285 cash from accounts receivable. 4. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account. References Required a. Record the events for Year 1 and Year 2 (including closing entries for Year 1) in T-accounts. b. Determine the following amounts: (1) Net income for Year 1 (2) Net cash flow from operating activities for Year 1. (3) Balance of accounts receivable at the end of Year 1. (4) Net realizable value of accounts receivable at the end of Year 1. C. Repeat Requirement b for the Year 2 accounting period. Complete this question by entering your answers in the tabs below. Required A Required B Required Determine the following amounts: (Round your intermediate calculations to nearest whole dollar.) (1) Net income for Year 1. (2) Net cash flow from operating activities for Year 1. (3) Balance of accounts receivable at the end of Year 1. (4) Net realizable value of accounts receivable at the end of Year 1. Show less (1) Net Income for Year 1 (2) Net cash flow from operating activities for Year 1 (3) Balance of accounts receivable at the end of Year 1 (4) Net realizable value of accounts receivable at the end of Year 1 1 3.33 oints Rosie Dry Cleaning was started on January 1, Year 1. It experienced the following events during its first two years of operation. Events Affecting Year 1 1. Provided $31,260 of cleaning services on account. 2. Collected $25,008 cash from accounts receivable. 3. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account. cBook Print Events Affecting Year 2 1. Wrote off a $234 account receivable that was determined to be uncollectible. 2. Provided $36,480 of cleaning services on account. 3. Collected $32,285 cash from accounts receivable. 4. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account. References Required a. Record the events for Year 1 and Year 2 (including closing entries for Year 1) in T-accounts. b. Determine the following amounts: (1) Net income for Year 1. (2) Net cash flow from operating activities for Year 1. (3) Balance of accounts receivable at the end of Year 1. (4) Net realizable value of accounts receivable at the end of Year 1. c. Repeat Requirement b for the Year 2 accounting period. Complete this question by entering your answers in the tabs below. Required Required A Required B Repeat Requirement b for the Year 2 accounting period. (Round your intermediate calculations to nearest whole dollar.) (1) Net income for Year 2 (2) Net cash flow from operating activities for Year 2 (3) Balance of accounts receivable at the end of Year 2 (4) Net realizable value of accounts receivable at the end of Year 2