Question
Required information [The following information applies to the questions displayed below.] Leach Inc. experienced the following events for the first two years of its operations:
Required information [The following information applies to the questions displayed below.] Leach Inc. experienced the following events for the first two years of its operations: 2018: Issued $10,000 of common stock for cash. Provided $70,000 of services on account. Provided $29,000 of services and received cash. Collected $41,000 cash from accounts receivable. Paid $16,000 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. 2019: Wrote off an uncollectible account for $700. Provided $90,000 of services on account. Provided $30,000 of services and collected cash. Collected $72,000 cash from accounts receivable. Paid $26,000 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. I need the end total for accounts receivable after year 2
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