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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
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 $30,720 of cleaning services on account. 2. Collected $24,576 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 $230 account receivable that was determined to be uncollectible. 2. Provided $35,850 of cleaning services on account. 3. Collected $31,727 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. (4) 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 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
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