Complete this question by entering your answers in the tabs below. Note: Enter any decreases to account balances with a minus sign. Not all cells require input. Complete this question by entering your answers in the tabs below. Determine the following amounts for the Year 2 accounting period. (4) Net realizable value of accounts receivable at the end of Year 2. Complete this question by entering your answers in the tabs below. Determine the following amounts for the Year 1 accounting period. Exercise 7-4A (Static) Effect of recognizing uncollectible accounts expense on financial statements: Percent of revenue allowance method LO 71 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 $45,000 of cleaning services on account. 2. Collected $39,000 cosh 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. Events Affecting Year 2 1. Wrote off a $300 account receivable that was determined to be uncollectible. 2. Provided $62,000 of cleaning services on account. 3. Collected $61,000 cash from accounts recelvable. 4. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account. Required: a. Organize the transaction data in accounts under an accounting equation for each year: b. Determine the following amounts: (1) Net income for Year 1 . (2) Net cash flow from operating octivities for Year 1. (3) Balance of accounts recelvable at the end of Year 1. (4) Net realizable value of occounts recelvable at the end of Year 1. c. Determine the following amounts: (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) Not realizoble value of accounts recelvable ot the end of Year 2. Complete this question by entering your answers in the tabs below. Organize the transaction data in accounts under an accounting equation for Year 1 . Note: Enter any decreases to account balances with a minus sign. Not all cells require input