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Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req B ReqC Determine the following amounts for the Year
Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req B ReqC Determine the following amounts for the Year 1 accounting period. (Round your answers to nearest whole dollar amount.) Net income Net cash flow from operating activities Balance of accounts receivable Net realizable value of accounts receivable $ 29,175 $ 23,576 $ 5,599 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 $29,470 of cleaning services on account. 2. Collected $23,576 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. Events Affecting Year 2 1. Wrote off a $221 account receivable that was determined to be uncollectible. 2. Provided $34,391 of cleaning services on account. 3. Collected $30,436 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. Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req B ReqC Determine the following amounts for the Year 1 accounting period. (Round your answers to nearest whole dollar amount.) Net income Net cash flow from operating activities Balance of accounts receivable Net realizable value of accounts receivable $ 29,175 $ 23,576 $ 5,599
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