Rosle 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 $45,000 of cleaning services on account 2. Collected $39,000 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 $300 account receivable that was determined to be uncollectible. 2. Provided $62,000 of cleaning services on account 3. Collected $61,000 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 Required a. Organize the transaction data in accounts under an accounting equation for each year. b. Determine the following amounts: 1. (1) Net Income for Year 1 2. (2) Net cash flow from operating activities for Year 1. 3. (3) Balance of accounts receivable at the end of Year 1. 4. (4) Net realizable value of accounts receivable at the end of Year 1. c. Determine the following amounts: 1. (1) Net income for Year 2. 2. (2) Net cash flow from operating activities for Year 2 3. (3) Balance of accounts receivable at the end of Year 2 4. (4) Net realizable value of accounts receivable at the end of Year 2. Complete this question by entering your answers in the tabs below. Req A1 Reg A2 Req B ReqC Organize the transaction data in accounts under an accounting equation for Year 1. (Enter any decreases to account balances with a minus sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank. Not all cells will require entry.) ROSIE DRY CLEANING Accounting Equation for the Year 1 Balance Sheet Assets Event Equity Accounts Titles for Retained Earnings NRV Accounts Retained Cash Receivablo Earnings 1 2 3. Bal. ola 0 + + REGA Req A2 > Reg A1 Reg A2 ReqB Reqc Organize the transaction data in accounts under an accounting equation for Year 2. (Enter any decreases to account balances with a minus sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank. Not all cells will require entry) ROSIE DRY CLEANING Accounting Equation for the Year 2 Balance Sheet Assets Equity Accounts Titles for Retained Earnings NRV Accounts Cash Receivablo Earnings Bal. Event Retained 1. 2. 3 4. Bal 04 O 0 Complete this question by entering your answers in the tabs below. Reg A1 Req A2 Req B Reqc Determine the following amounts for the Year 1 accounting period. Net income Net cash flow from operating activities Balance of accounts receivable Net realizable value of accounts rectivable Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req B Reqc Determine the following amounts for the Year 2 accounting period. Net income Net cash flow from operating activities Balance of accounts receivable Net realizable value of accounts receivable