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