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Faello Inc. experlenced the following events for the first two years of its operations: 2014 1. Provided $90,000 of sevices on account 2. Provided $29,000
Faello Inc. experlenced the following events for the first two years of its operations: 2014 1. Provided $90,000 of sevices on account 2. Provided $29,000 of services and recelved cash. 3. Collected $61,000 cash from accounts recelvable 4. Pald $20,000 of salaries expense for the year. 5. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Faello estimates that 8 percent of the ending accounts recelvable balance will be uncollectible 2015 1. Wrote off an uncollectible account of $710. 2. Provided $110,000 of services on account 3. Provided $25,000 of services and collected cash. 4. Collected $92,000 cash from accounts recelvable 5. Pald $24,000 of salarles expense for the year. 6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Faello estimates that 8 percent of the ending accounts recelvable balance will be uncollectible alue 0.00 points Required a. Organize the transaction data in accounts under an accounting equation for 2014. (Enter any decreases to account balances with a minus sign. Select "NA" if there is no effect on the "Accounts Titles for Retained Earnings".) FAELLO INC Accounting Equation for the Year 2014 Assets Equity Accounting Titles for Retained Earnings Event Cash Accounts Liabilities+ Retained Receivable Allowance Earnings 4 5 Bal
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