Rosie Dry cleaning was starting on January 1st, year one. it's experienced the following events during it's first two years of operation.

Exerclse 7-4A (Algo) Effect of recognlzing uncollectlble accounts expense on flnanclal statements: Percent of revenue allowance method LO 7-1 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 $29,670 of cleaning services on account. 2 Collected $23,736 cosh from accounts receivable. 3. Adjusted the accounting records to reflect the estimate that uncollectible occounts expense would be 1 percent of the cleaning revenue on occount. Events Affecting Year 2 1. Wrote off $223 occount receivable that wos determined to be uncollectible. 2. Provided $34,625 of cleaning services on account. 3. Collected $30,643 cash from accounts receivable. 4. Adjusted the occounting records to reflect the estimate thot uncollectible occounts expense would be 1 percent of the cleaning revenue on account. Required: a. Organize the transaction dato in accounts under an accounting equation for each yeor. b. Determine the following omounts: (1) Net income for Year 1. (2) Net cosh flow from operating activities for Year 1. (3) Balence of accounts receivable at the end of Yeor 1. (4) Net reslizable value of accounts receivable ot the end of Year 1. c. Determine the following omounts: (1) Net income for Year 2 (2) Net cosh flow from operating activities for Year 2 (3) Balance of sccounts receivable at the end of Year 2 (4) Net reslizsble value of accounts receivable at the end of Year 2 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. Req C Determine the following amounts for the Year 1 accounting period. Note: Round your answers to nearest whole dollar amount. Determine the following amounts for the Year 2 accounting period. Note: Round your answers to nearest whole dollar a mount