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

Rosie Dry Cleaning was started on January 1, Year 1. It experienced the following events during its first two years of operation: Events Affecting Year 1 Provided $32,930 of cleaning services on account. Collected $26,344 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 Year 2 Wrote off a $247 account receivable that was determined to be uncollectible. Provided $38,429 of cleaning services on account. Collected $34,010 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: Net income for Year 2. Net cash flow from operating activities for Year 2. Balance of accounts receivable at the end of Year 2. Net realizable value of accounts receivable at the end of Year 2.

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