Leach Incorporated experienced the following events for the first two years of its operations.

Year 1:

1. Issued $19,000 of common stock for cash.

2. Provided $87,900 of services on account.

3. Provided $45,000 of services and received cash.

4. Collected $78,000 cash from accounts receivable.

5. Paid $47,000 of salaries expense for the year.

6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible.

7. Closed the revenue account.

8. Closed the expense accounts.

Year 2:

1. Wrote off an uncollectible account for $1,100.

2. Provided $97,000 of services on account.

3. Provided $41,000 of services and collected cash.

4. Collected $90,000 cash from accounts receivable.

5. Paid $74,000 of salaries expense for the year.

6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible.

7. Closed the revenue account.

8. Closed the expense accounts.

d. Record the Year 2 events in general journal form and post them to T-accounts. Prepare the income statement, statement of changes in stockholders equity, balance sheet, and statement of cash flows for Year 2. What is the net realizable value of the accounts receivable at December 31, Year 2?

Record the Year 2 events in general journal form. (If no entry is required for a transaction/event, selec first account field. Round your answers to the nearest whole dollar amounts.) Journal entry worksheet Wrote off an uncollectible account for $1,100. Record the entry. Note: Enter debits before credits. Post the Year 2 events to T-accounts. (Round your answers to the nearest whole dollar amounts.) Prepare the income statement for Year 2. (Round your answers to Dronaro tho ctatomont nf channoc in ctnrkhnldarc' anuity far Vear 2 Prepare the balance sheet for Year 2. (Enter amounts to be deducted with a whole dollar amounts.) Prepare the statement of cash flows for Year 2. (Enter cash outflows with a minus sign.) What is the net realizable value of the accounts receivable at December 31 , Year 2 ? (Round your answer to whole dollar amounts.)