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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 1. Provided $33,310 of cleaning services on account. 2. Collected $26,648 cash from accounts receivable. 3. 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 1. Wrote off a $250 account receivable that was determined to be uncollectible. 2. Provided $38,873 of cleaning services on account. 3. Collected $34,403 cash from accounts receivable. 4. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account. Complete this question by entering your answers in the tabs below. Organize the transaction data in accounts under an accounting equation for Year 1. Note: Enter any decreases to account balances with a minus sign. Not all cells require input Complete this question by entering your answers in the tabs below. Organize the transaction data in accounts under an accounting equation for Year 2. Note: Enter any decreases to account balances with a minus sign. Not all cells require input Complete this question by entering your answers in the tabs below. Determine the following amounts for the Year 1 accounting period. Note: Round your answers to nearest whole dollar amount. Complete this question by entering your answers in the tabs below. Determine the following amounts for the Year 2 accounting period. Note: Round your answers to nearest whole dollar amount
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