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Events Affecting 2018 1. Provided $45,000 of cleaning services on account. 2. Collected $39,000 cash from accounts recelvable 3. Adjusted the accounting records to reflect
Events Affecting 2018 1. Provided $45,000 of cleaning services on account. 2. Collected $39,000 cash from accounts recelvable 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 2019 1. Wrote off a $300 account recelvable 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. (1) Net Income for 2018. 2 (2) Net cash flow from operating activities for 2018. 3. (3) Balance of accounts recelvable at the end of 2018 4. (4) Net realizable value of accounts recelvable at the end of 2018 c. Determine the following amounts: 1.1) Net Income for 2019 2 (2) Net cash flow from operating activities for 2019 3. (3) Balance of accounts recelvable at the end of 2019. 4. (4) Net realizable value of accounts recelvable at the end of 2019. Complete this question by entering your answers in the tabs below Req A1 Req A2 Req B Req C Organize the transaction data in accounts under an accounting equation for year 2018. (Enter any decreases to account balances with a minus sign. Select "NA" if there is no effect on the "Accounts Titles for Retained Earnings".) ROSIE DRY CLEANING Accounting Equation for the Year 2018 Balance Sheet Accounts Titles for Retained Earnings Assets Accounts Receivable Allowance Equity Retained Earnings Event Cash+ 2. Bal
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