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Background Information: Donald Duck and Friends began operations on January 1, 2017 The following events occurred during the year 1 Provided lawn services on account

Background Information: Donald Duck and Friends began operations on January 1, 2017
The following events occurred during the year
1 Provided lawn services on account for $90,000
2 Collected $82,000 cash from accounts receivable
3 Paid Salaries to Mickey for the year of $30,000
4 Adjusted A/R to have an ending balance 0f $1,800 based on percent of Revenue method
a) Complete the accounting equation for the different transactions.
Donald and Friends Company
Accounting Equation
Event Assets Equity
Cash + Accounts Receivable - Allowance = Retained Earnings
1 Service Revenue
2
3 Salaries Expense
4 Uncollectible accounts expense
Total $ - + $ - - $ - = $ -

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