$[$The following information applies to the questions displayed below.$]$

The following transactions apply to Jova Company for Year $1,$ the first year of operation:

Issued $$15,000$ of common stock for cash.

Recognized $$70\mathrm{.}000$ of service revenue earned on account.

Collected $$62\mathrm{.}000$ from accounts receivable.

Paid operating expenses of $$35,900.$

Adjusted accounts to recognize uncollectible accounts expense. Jova uses the allowance method of accounting for

uncollectible accounts and estimates that uncollectible accounts expense will be $2$ percent of sales on account.

The following transactions apply to Jova for Year $2$ :

Recognized $$77\mathrm{.}500$ of service revenue on account.

$2$ Collected $$70\mathrm{.}000$ from accounts receivable.

Determined that $$1,000$ of the accounts receivable were uncollectible and wrote them off.

Collected $$200$ of an account that had previously been written off.

Paid $$49\mathrm{.}500$ cash for operating expenses.

Adjusted the accounts to recognize uncollectible accounts expense for Year $2$ Jova estimates uncollectible accounts

expense will be $1\mathrm{.}0$ percent of sales on account.

Requlred

Complete the following requirements for Year $1$ and Year $2.$ Complete all requirements for Year $1$ prior to beginning the

requirements for Year $2.$

c$.$ Organize the transaction data in accounts under an accounting equation.

Complete this question by entering your answers in the tabs below.

Organize the transaction data in accounts under an accounting equation for Year $2.($Enter any decreases to account balances with a min

is no effect on the Accounts Titles for Retained Earnings, leave the cell blank. Not all cells will require entry.$)$