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 $$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 Year $2$

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:

Net income for Year $1.$

Net cash flow from operating activities for Year $1.$

Balance of accounts receivable at the end of Year $1.$

Net realizable value of accounts receivable at the end of Year $1.$

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 $2.$Rosie Dry Cleaning was started on January $1,$ Year $1.$ It experienced the following events during its first two years of

Events Affecting Year $1$

Provided $$45,000$ of cleaning services on account

Collected $$39,000$ cash from accounts receivable.

Collected $$39,000$ cash from accounts receivable.

the cleaning revenue on account.

Events Affecting Year $2$

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

Provided $$62,000$ of cleaning services on account.

Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be $1$ percent of

Adjusted the accounting records to the cleaning revenue on account.

Required

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

b$.$ Determine the following amounts:

Net income for Year $1.$

Net cash flow from operating activities for Year $1$

Balance of accounts receivable at the end of Year $1.$

c$.$ 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 $2.$

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. Leave cells blank if no

input is needed. Round your answers to the nearest whole dollar.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 $$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 Year $2$

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

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

b$.$ Determine the following amounts:

Net income for Year $1.$

Net cash flow from operating activities for Year $1.$

Balance of accounts receivable at the end of Year $1.$

Net realizable value of accounts receivable at the end of Year $1.$

c$.$ 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 $2.$

Complete this question by entering your answers in the tabs below.

Req A$1$ Req A$2$

Organize the transaction data in accounts under an accounting equation for Year $2.$

Note: Enter any decreases to account balances with a minus sign. Leave cells blank if no

input is needed. Round your answers to the nearest whole dollar.