Required Information [The following information applies to the questions displayed below.] The following transactions apply to Walnut Enterprises for Year 1, Its first year of operations: 1. Recelved $41,000 cash from the Issue of a short-term note with a 6 percent Interest rate and a one-year maturity. The note was made on Aprll 1, Year 1. 2. Recelved $119,000 cash plus applicable sales tax from performing services. The services are subject to a sales tax rate of 7 percent. 3. Paid $71,000 cash for other operating expenses during the year. 4. Paid the sales tax due on $99,000 of the service revenue for the year. Sales tax on the balance of the revenue is not due untll Year 2. 5. Recognized the accrued Interest at December 31 , Year 1. The following transactions apply to Walnut Enterprises for Year 2: 1. Paid the balance of the sales tax due for Year 1. 2. Recelved $144,000 cash plus applicable sales tax from performing services. The services are subject to a sales tax rate of 7 percent. 3. Repald the principal of the note and applicable Interest on Aprll 1, Year 2. 4. Paid $84,000 of other operating expenses during the year. 5. Paid the sales tax due on $119,000 of the service revenue. The sales tax on the balance of the revenue is not due untll Year 3. (For all requirements, round your Intermedlate and final answers to the nearest whole dollar amount.) 1. Record the Year 2 transactions In general journal form. 1.2. Post the Year 2 transactions to T-accounts. -3. Prepare an Income statement for Year 2. 7. Prepare a statement of changes in stockholders' equity for Year 2. -5. Prepare a balance sheet for Year 2. -6. Prepare a statement of cash flows for Year 2. 7. Prepare closing entrles for Year 2. 7.8. Post the Year 2 closing entries to T-accounts. -9. Prepare a post-closing trlal balance for Year 2. Complete this question by entering your answers in the tabs below. Record the Year 2 transactions in general journal form. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)