-prepare T accounts for Year 1 and Year 2

-prepare a post closing trial balance for year 1 and year 2

---- HIMOVIC Saved The following transactions apply to Jova for Year 2 1. Recognized $338,000 of service revenue on account. 2. Collected $353,000 from accounts receivable. [The following information applies to the questions displayed below] The following transactions apply to Jova Company for Year 1, the first year of operation: 1. Issued $28,000 of common stock for cash. 2. Recognized $228,000 of service revenue earned on account. 3. Collected $181,800 from accounts receivable. 4. Paid $143,000 cash for operating expenses. 5. Adjusted the accounts to recognize uncollectible accounts expense. Jova uses the allowance method of accounting for uncollectible accounts and estimates that uncollectible accounts expense will be 2 percent of sales on account. 3. Determined that $3,050 of the accounts receivable were uncollectible and wrote them off. 4. Collected $2,600 of an account that had previously been written off. 5. Paid $223.000 cash for operating expenses. 6. Adjusted the accounts to recognize uncollectible accounts expense for Year 2. Jova estimates uncollectible accounts expense will be 1.0 percent of sales on account Help Complete the following requirements for Year 1 and Year 2. Complete all requirements for Year 1 prior to beginning the requirements for Year 2. Save & Exi Check Balance Before Closing Ending Balance Balance Before Closing Ending Balance. Balance Before Closing Ending Balance Cash Common Stock Retained Earnings Balance Before Closing Ending Balance Balance Before Closing Ending Balance Allowance For Doubtful Accounts Balance Before Closing Ending Balance Accounts Receivable. Service Revenue Required information didice Delvit Clusiny Ending Balance Balance Before Closing Ending Balance Operating Expenses Udidlice Delore Clusiny Ending Balance Balance Before Closing Ending Balance Uncollectible Accounts Expense JOVA COMPANY Post Closing Trial Balance December 31, Year 2 Account Titles Cash Common stock Accounts receivable Retained earnings Allowance for doubtful accounts Total Debit $ 199,400 25,500 Credit 28,000 192,060 4,890 $ 224,900 $ 224,950