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During Year 2, Calico Company experienced the following accounting events: 1. Provided $120,000 of services on account: 2. Collected $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. Collected $84,000 cash from accounts receivable. 3. Wrote off $1,900 of accounts recelvable that were uncollectible. 4. Loaned 53,600 to an individual, Emma Gardner, in exchange for a note receivable. 5. Pald 591,500 cash for operating expenses. 6. Estimated that uncollectible accounts expense would be 1 percent of revenue earned on account. Recorded the year-end adjusting entry. 7. Recorded the year-end adjusting entry for accrued interest on the note recelvable (see Event 4). Calico made the loan on August 1. it had a six-month term and a 5 percent rate of interest. Required a. Pecord 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 receivable 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. Record the Year 2 events in ledger accounts under an accounting equation. Calico's ledger balances on January 1, Year 2, ware as follows: (Enter any decreases to account balances with a minus sign. Not all cells will require entry.) 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

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