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: Year 1: 1. Issued $10,000 of common stock for cash. 2. Provided $110,000 of services on account. 3. Provided $29,000 of services and received cash. 4. Collected $81,000 cash from accounts receivable. 5. Paid $20,000 of salaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 6 percent of the ending accounts receivable balance will be uncollectible. Year 2: 1. Wrote off an uncollectible account for $670. 2. Provided $130,000 of services on account. 3. Provided $20,000 of services and collected cash. 4. Collected $112,000 cash from accounts receivable. 5. Paid $26,000 of salaries expense for the year. 6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 6 percent of the ending accounts receivable balance will be uncollectible. Required a. Organize the transaction data in accounts under an accounting equation. (Enter any decreases to account balances with a minus sign. Not all cells in the "Accounts Titles for Retained Earnings" column may require an input - leave cells blank if there is no corresponding Retained Earnings input needed.) LEACH INC. Accounting Equation for the Year 1 Equity - Liabilities + Common Retained Allowance stock Earnings Assets Accounts Recolvable Event Accounting Titles for Retained Earnings Cash Bal c. What is the net realizable value of the accounts receivable at December 31, Year 1? Net realizable value