On October $1,$ Year $1,$ YD collected $$25,200$ for consulting services it agreed to provide during the coming year.

Adjusted the accounts to reflect the amount of consulting service revenue recognized in Year $1.$

Required:

Based on this information alone:

a$.$ Record the events under an accounting equation.

b$.$ Prepare an income statement, balance sheet, and statement of cash flows for the Year $1$ accounting period.

c$.$ Ignoring all other future events, what is the amount of service revenue that would be recognized in Year $2?$

Complete this question by entering your answers in the tabs below.

$\backslash$table$[[ReqA,\backslash$table$[[$Req B$1],[$Income$],[$statement$]],\backslash$table$[[$Req B$2],[$Balance sheet$]],\backslash$table$[[$Req B$3],[$Statement of$],[$cash flows$]],$ReqC