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Need help with the last two boxes please (show work) Events Affecting Year 1 1. Provided $26,750 of cleaning services on account. 2. Collected $21,400
Need help with the last two boxes please (show work)
Events Affecting Year 1 1. Provided $26,750 of cleaning services on account. 2. Collected $21,400 cash from accounts receivable. 3. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account. Events Affecting Year 2 1. Wrote off a $201 account receivable that was determined to be uncollectible. 2. Provided $31,217 of cleaning services on account. 3. Collected $27,627 cash from accounts receivable. 4. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account. Required a. Organize the transaction data in accounts under an accounting equation for each year. b. Determine the following amounts: 1. (1) Net income for Year 1. 2. (2) Net cash flow from operating activities for Year 1. 3. (3) Balance of accounts receivable at the end of Year 1. 4. (4) Net realizable value of accounts receivable at the end of Year 1. c. Determine the following amounts: 1. (1) Net income for Year 2. 2. (2) Net cash flow from operating activities for Year 2. 3. (3) Balance of accounts receivable at the end of Year 2. 4. (4) Net realizable value of accounts receivable at the end of Year 2. Complete this question by entering your answers in the tabs below. Req A1 Reg A2 Req B Reg C Determine the following amounts for the Year 2 accounting period. (Round your answers to nearest whole dollar amount.) Net income $ 30,905 $ 27,627 Net cash flow from operating activities Balance of accounts receivable Net realizable value of accounts receivableStep by Step Solution
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