Malco Enterprises Issued $21,000 of common stock when the company was started. In addition, Malco borrowed $47.000 from a local bank on July 1, Year 1. The note had a 6 percent annual interest rate and a one-year term to maturity. Malco Enterprises recognized $84,600 of revenue on account in Year 1 and $96,200 of revenue on account in Year 2. Cash collections of accounts receivable were $72,300 in Year 1 and $82,500 in Year 2. Malco paid $48,900 of other operating expenses in Year 1 and $56,000 of other operating expenses in Year 2. Malco repaid the loan and interest at the maturity date. Required Based on this information given above, record the events in the accounting equation and answer the following questions. (Enter any decreases to account balances with a minus sign.) MALCO ENTERPRISES Effect of Events on the Financial Statements Balance Sheet Assets Liabilities Accounts Notes Interest Receivable Payable Payable Events Cash Stkholders' Equity Common Retained Stock Earnings Year 1 1. Com. Stock 2 Loan 3. Rev. 4. Coll. AR 5. Op Exp 6. Int Acc End Bal Year 2 Bea Bal Prev 1 of 2 !!! Next > MALCO ENTERPRISES Effect of Events on the Financial Statements Balance Sheet Assets Liabilities Accounts Notes Interest Receivable Payable Payable Events Cash Stkholders' Equity Common Retained Stock Earnings Year 1 1. Com Stock 2. Loan 3. Rev 4. Coll. AR 5 Op. Exp 6. Int. Acc End. Bal Year 2 Beg Bal 1 Rev 2 Coll AR 3. Op. Exp 4 Int. Ace 5. Pay Int & Prin End Bal