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[The following information applies to the Questions displayed below.] Faille Inc. experienced the following events for the first two years of its operations: 2014: Provided
[The following information applies to the Questions displayed below.] Faille Inc. experienced the following events for the first two years of its operations: 2014: Provided $110,000 of services on account Provided $33,000 of services and received cash. Collected $77,000 cash from accounts receivable. Paid $22,000 of salaries expense for the year. Adjusted the accounting records to reflect uncollectible accounts expense for the year Faille estimates that 7 percent of the ending accounts receivable balance will be uncollectible. 2015: Wrote off an uncollectible account of $690 Provided $130,000 of services on account Provided $25,000 of services and collected cash. Collected $112,000 cash from accounts receivable. Paid $22,000 of salaries expense for the year Adjusted the accounts to reflex uncollectible accounts expense for the year. Faille estimates that 7 percent of the ending accounts receivable balance will be uncollectible. Required Organize the transaction data in accounts under an accounting equation for 2014
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