Exercise 7-7A (Algo) Effect of recognizing uncollectible accounts on the financial statements: Percent of receivables allowance method LO 7-2 Skip to question [The following information applies to the questions displayed below.] Leach Incorporated experienced the following events for the first two years of its operations: Year 1: Issued $10,000 of common stock for cash. Provided $60,000 of services on account. Provided $29,000 of services and received cash. Collected $31,000 cash from accounts receivable. Paid $12,000 of salaries expense for the year. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 7 percent of the ending accounts receivable balance will be uncollectible. Year 2: Wrote off an uncollectible account for $2,710. Provided $80,000 of services on account. Provided $25,000 of services and collected cash. Collected $62,000 cash from accounts receivable. Paid $30,000 of salaries expense for the year. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 7 percent of the ending accounts receivable balance will be uncollectible.

Exercise 7-7A (Algo) Part d d-1. Organize the transaction data in accounts under an accounting equation for Year 2. d-2. Prepare an income statement for Year 2. d-3. Prepare the statement of changes in stockholders' equity for Year 2. d-4. Prepare the balance sheet for Year 2. d-5. Prepare the statement of cash flows for Year 2. d-6. What is the net realizable value of the accounts receivable at December 31, Year 2?

(Just need row 6 on year two Accounting Equation Table!!!)

Organize the transaction data in acoounts under an acoounting equation for Year 2. Note: Enter any decreases to account balances with a minus sign. Not all cells require input. Round your intermediate calculations and final answer to the nearest whole dollar