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Rosle Dry Cleaning was started on January 1, Year 1. it expenenced the following events during its first two years of operation: Events Affecting Year

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Rosle Dry Cleaning was started on January 1, Year 1. it expenenced the following events during its first two years of operation: Events Affecting Year 1 1. Provded $28,940 of cleaning services on account. 2. Collected $23,152 cash from accounts recelvable. 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 $217 account recelvable that was determined to be uncollectible. 2. Provided $33,773 of cleaning services on account. 3. Collected $29.889 cash from accounts recelvable. 4. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning 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 flow from operating activities for Year 1. (3) Balance of accounts recelvable at the end of Year 1 . (4) Net realizable value of accounts recelvable at the end of Year 1 . c. Determine the followng amounts: (1) Net income for Year 2 (2) Net cash flow from operating activities for Year 2 (3) Balance of accounts recelvable ot the end of Year 2 (4) Net realizable value of accounts recelvable at the end of Year 2 \begin{tabular}{|l|} \hline Net income \\ \hline Net cash flow from operating activities \\ \hline Balance of accounts receivable \\ \hline Net realizable value of accounts receivable \\ \hline \end{tabular} \begin{tabular}{|l|} \hline Net income \\ \hline Net cash flow from operating activities \\ \hline Bet realizable value of accounts receivable \\ \hline \end{tabular}

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