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During Year 2, Calico Company experienced the following accounting events: 1. Provided $120,000 of services on account. 2. Colected $84,000 cash from accounts receivable. 3.

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During Year 2, Calico Company experienced the following accounting events: 1. Provided $120,000 of services on account. 2. Colected $84,000 cash from accounts receivable. 3. Wrote ofl 51,900 of accounts recelvabie that were uncolectible. 4. Looned $3,600 to an individual, Emme Gardner, in exchange for a note receivable. 5. Poid $91.500 cash for operating expenses. 6. Estimbted that uncollectible accounts expense would be 1 percent of revenue eamed on account. Recorded the year-end adjusting entry. 7. Recorded thit yearend adjusting entry for acerued interest on the note recelvable (see Event 4 ) Calico made the loon on August 1. It had a sik-month term and a 5 percent rate of interest. Aequired B. Record the Year 2 events in ledger accounts under an accounting equation. b. Determine net income for Year 2 . c. Determine net cash flow from operating activities for Year 2 d. Determine the net realizable value of occoumts recelvable af December 31 , Year 2 . e. What amourt of intecest revenue will Calico recognize on its note recelvable in Year 3 ? Compiete this question by entering your answers in the tabs below. Record the Year 2 events in ledger accounts under an accounting equation. Calico's ledger balances on January 1, Year 2, were as follows: (Enter any decreases to account balances with a minus sign, Not all cells will require entry.) Required a. Record the Year 2 events in ledger accounts under an accounting equation. b. Determine net income for Year 2 . c. Determine net cash flow from operating activities for Year 2. d. Determine the net realizable value of accounts recelvable at December 31, Year 2. e. What amount of interest revenue will Calico recognize on its note receivable in Year 3 ? Complete this question by entering your answers in the tabs below. b. Determine net income for Year 2 . c. Determine net cash fow from operating activities for Year 2 . d. Determine the net realizable value of accounts recelvable at December 31, Year 2. e. What amount of interest revenue will Calico recognize on its note recelvable in Year 3

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