Events Affecting Year $1$:

Provided $$84,000$ of cleaning services on account.

Collected $$76,000$ cash from accounts receivable.

Paid salaries of $$28,500$ for the year.

Adjusted the accounts to reflect management's expectations that uncollectible accounts expense would be $$1,650.$ The expense was determined using the percent of revenue method.

Required:

a$.$ Organize the transaction data in accounts under an accounting equation.

b$.$ Prepare an income statement, a balance sheet, and a statement of cash flows for Year $1.$

Complete this question by entering your answers in the tabs below.

Organize the transaction data in accounts under an accounting equation.

Note: Enter any decreases to account balances with a minus sign. Not all cells require input.

$\backslash$table$[[$Event$,$Balance Sheet,Account Titles for Retained Earnings$],[$Assets tr$,=,$Liabilities,$+,\backslash$table$[[$Equity$],[$Retained$],[$Earnings$]]],[$Cash$,+,\backslash$table$[[$NRV$],[$Accounts$],[$Receivable$]]],[$Year $1],[1.,,+,,=,,+,,],[2.,,+,,=,,+,,],[3.,,+,,=,,+,,],[4.,,+,,=,,+,,],[$Balance$,,+,,=,,+,,]]$