Required information {The following information applies to the questions displayed below.) The following transactions apply to Jova Company for 2018, the first year of operation art 1 of 5 boints Skipped 1. Issued $11,000 of common stock for cash. 2. Recognized $66,000 of service revenue earned on account. 3. Collected $58,800 from accounts receivable. 4. Pald operating expenses of $35,100. 5. Adjusted accounts to recognize uncollectible accounts expense. Jove uses the allowance method of accounting for uncollectible accounts and estimates that uncollectible accounts expense will be 2 percent of sales on account. The following transactions apply to Jova for 2019 1. Recognized $73,500 of service revenue on account. 2. Collected $66,800 from accounts receivable. 3. Determined that $920 of the accounts receivable were uncollectible and wrote them off. 4. Collected $300 of an account that had previously been written off 5. Paid $48,700 cash for operating expenses. 6. Adjusted the accounts to recognize uncollectible accounts expense for 2019. Jova estimates uncollectible accounts expense will be 10 percent of sales on account Required Complete the following requirements for 2018 and 2019. Complete all requirements for 2018 prior to beginning the requirements for 2019 JOVA COMPANY Horizontal Statements Model Assets Liabilities - Equity Revenues Expenses Net Income Statement of Cash FA GOOD