2. Listed below are several transactions that took place during the first two years of operations for the law firm of Pete, Pete, and Roy.

	Year 1			Year 2
Amounts billed to customers for services rendered	$	172,000		$	222,000
Cash collected from customers		161,000			191,000
Cash disbursements:
Salaries paid to employees for services rendered during the year		91,000			101,000
Utilities		30,500			41,000
Purchase of insurance policy		60,300			0

In addition, you learn that the company incurred utility costs of $35,500 in year 1, that there were no liabilities at the end of year 2, no anticipated bad debts on receivables, and that the insurance policy covers a three-year period.

3.	Determine the amount of receivables from customers that the company would show in its year 1 and year 2 balance sheets prepared according to the accrual accounting model.

	Year 1	Year 2
Receivables	?	?