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 $33.460 of cleaning services on account 2. Collected $26,768 cash from accounts recelvable 3. Adjusted the accounting records to reflect the estimate that uncoliectible accounts expense would be 1 percent of the cleaning revenue on account Events Affecting Yeor 2 1. Wrote off a $251 account receivable that was determined to be uncollectible 2. Provided $39,048 of deaning services on account. 3. Collected $34,557 cash from accounts recelvable 4. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cieaning revenue on account Required: 0. Organize the transaction data in accounts under an accounting equation for each year b. Determine the following amounts (1) Net income for Year 1 (2) Net cash now from operating activites for Year 1 (3) Balance of accounts recelvable at the end of Year 1 (4) Net reaizable value of accounts recelvable at the end of Year 1 c. Determine the following amounts (1) Net income for Year 2 (2) Net cash flow from operaung activities for Year 2 (3) Balance of acgounts recervable at the end of Year 2 (4) Net realizablevalue 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 Noter Enter any decreases to account balances with a minus sign. Not all cella require inputa Organize the transaction data in accounts under an accounting equation for Year 2. Noter Enter any decreases to account balances with a minus sign. Not all cells require input, 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 amount. 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 inpu Events Affecting Year 2 1. Wrote off a $251 account recelvable that was determined to be uncollectiole 2. Provided $39,048 of cleaning services on account. 3. Collected $34,557 cash from accounts recelvable. 4. Adjusted the occounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account: Required: 6. Organize the transaction dato in accounts under an accounting equation for each year: b. Determine the following omounts: (1) Net income for Year 1 (2) Net cash flow from operating activities for Year 1 . (3) Balance of occounts receivoble at the end of Year 1 . (4) Net reaizable value of accounts recelvable at the end of Year 1 c. Determine the following amounts: (1) Net income for Year 2
