Required information Skip to question The following information applies to the questions displayed below Leach Inc experienced the following events for the first two years of its operations Year 1 Issued $10,000 of common stock for cash Provided $78,000 of services on account Provided $36,000 of services and received cash Collected $69,000 cash from accounts receivable Paid $38,000 of salaries expense for the year 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 Closed the revenue account Closed the expense account Year 2 Wrote off an uncollectible account for $650 Provided $88,000 of services on account Provided $32,000 of services and collected cash Collected $81,000 cash from accounts receivable Paid $65,000 of salaries expense for the year 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 Required a Record the Year 1 events in general journal form and post them to T accounts (If no entry is required for a transaction event, select No journal entry required in the first account field )

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Required information Skip to question [The following information applies to the questions displayed below.] Leach Inc. experienced the following events for the first two years

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[The following information applies to the questions displayed below.] Leach Inc. experienced the following events for the first two years of its operations: Year 1:

Issued $10,000 of common stock for cash.
Provided $78,000 of services on account.
Provided $36,000 of services and received cash.
Collected $69,000 cash from accounts receivable.
Paid $38,000 of salaries expense for the year.
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.
Closed the revenue account.
Closed the expense account.

Year 2:

Wrote off an uncollectible account for $650.
Provided $88,000 of services on account.
Provided $32,000 of services and collected cash.
Collected $81,000 cash from accounts receivable.
Paid $65,000 of salaries expense for the year.
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.

Required a. Record the Year 1 events in general journal form and post them to T-accounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)