Rosie Dry Cleaning was started on January 1, 2018. It experienced the following events during its first two years of operation:

Events Affecting 2018

Provided $45,000 of cleaning services on account.

Collected $39,000 cash from accounts receivable.

Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account.

Events Affecting 2019

Wrote off a $300 account receivable that was determined to be uncollectible.

Provided $62,000 of cleaning services on account.

Collected $61,000 cash from accounts receivable.

Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account.

Required

Organize the transaction data in accounts under an accounting equation for each year.

Determine the following amounts:

(1) Net income for 2018.

(2) Net cash flow from operating activities for 2018.

(3) Balance of accounts receivable at the end of 2018.

(4) Net realizable value of accounts receivable at the end of 2018.

Determine the following amounts:

(1) Net income for 2019.

(2) Net cash flow from operating activities for 2019.

(3) Balance of accounts receivable at the end of 2019.

(4) Net realizable value of accounts receivable at the end of 2019.

Complete this question by entering your answers in the tabs below Req A1 Req A2 Req B Req C Organize the transaction data in accounts under an accounting equation for year 2018. (Enter any decreases to account balances with a minus sign. Select "NA" if there is no effect on the "Accounts Titles for Retained Earnings".) ROSIE DRY CLEANING Accounting Equation for the Year 2018 Balance Sheet Equity Retained Earnings Accounts Titles for Retained Earnings Assets Event CashAccounts Receivable Allowance Bal Req A Req A2