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See attached images. I've worked through most of it, but it is not complete. Please help. Required information [The following information applies to the questions
See attached images. I've worked through most of it, but it is not complete. Please help.
Required information [The following information applies to the questions displayed below.] Leach Inc. experienced the following events for the first two years of its operations: Year 1: 1. Issued $10,000 of common stock for cash. 2. Provided $90,000 of services on account. 3. Provided $25,000 of services and received cash. 4. Collected $65,000 cash from accounts receivable. 5. Paid $18,000 of salaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 6 percent of the ending accounts receivable balance will be uncollectible. Year 2: 1. Wrote off an uncollectible account for $740. 2. Provided $110,000 of services on account. 3. Provided $20,000 of services and collected cash. 4. Collected $92,000 cash from accounts receivable. 5. Paid $24,000 of salaries expense for the year. 6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 6 percent of the ending accounts receivable balance will be uncollectible. : dl. Organize the transaction data in accounts under an accounting equation.
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