Required information The following information applies to the questions displayed below The following transactions apply to Jova Company for Year 1, the first year of operation: 1. Issued $18,500 of common stock for cash. 2 Recognized $61,500 of service revenue earned on account. 3. Collected $55.200 from accounts receivable. 4. Paid operating expenses of $37,200. 5. Adjusted accounts to recognize uncollectible accounts expense. Jova uses the allowance method of accounting for ebook accounts and estimates that uncollectible accounts expense will be 2 percent of sales on account The following transactions apply to Jova for Year 2 1. Recognized $69.000 of service revenue on account. 2. Collected $63,200 from accounts recelvable. 3 Determined that $830 of the accounts recelvable were uncollecible and wrote them of 4. Collected $300 of an account that had previously been written off 5. Paid $47,800 cash for operating expenses 6. Adjusted the accounts to recognize uncollectible accounts expense for Year 2. Jova estimates uncollectible accounts expense will be 1 percent of sales on account Required requirements for Year 1 and Year 2. Complete all equirements for Year 1 prlor to beginning the requirements for Year 2 c. Organize the transaction data in accounts under an accounting equation for each year point Complete this question by entering your answers in the tabs below. Show lesS & Required C1 Required C2 Organize the transaction data in accounts under an accounting equation for Year 1. (Enter any decreases to account balances with a minus sign. Select "NA" no effect on the "Accounts Titles for Retained Earnings") Ac counting Equation for the Year1 Assets Equity " Liabilities ommonRetained Aecounting Titles for Retained Event Earnings Cash Bal Required C2 Check my w Required information Complete this question by entering your answers in the tabs below Required Ct Required C2 rganize the transaction data in accounts under an accounting equation for Year 2 For event 4, reinstate the customer's account recelvable in 4a and record the receipt t "NA Accounting Equation for the Year 2 Assets Equity Accounts Titles for Retained Earnings Cash Accounts AllowanceLiabilities