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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 Year It experienced the following events during its first two years of operation:
Events Affecting Year
Provided $ of cleaning services on account.
Collected $ cash from accounts receivable.
Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be percent of the cleaning revenue on account.
Events Affecting Year
Wrote off a $ account receivable that was determined to be uncollectible.
Provided $ of cleaning services on account.
Collected $ cash from accounts receivable.
Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 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
Net cash flow from operating activities for Year
Balance of accounts receivable at the end of Year
Net realizable value of accounts receivable at the end of Year
Determine the following amounts:
Net income for Year
Net cash flow from operating activities for Year
Balance of accounts receivable at the end of Year
Net realizable value of accounts receivable at the end of Year Complete this question by entering your answers in the tabs below.
Req At
Determine the following amounts for the Year accounting period.
Note: Round your answers to nearest whole dollar amount.
Comprete this question by entering your answers in the tabs below.
Req A
Req
Reg B
Determine the following amounts for the Year accourting period.
Note: Reund your answers to nezrest whole dollar amount.
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