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[The following information applies to the questions displayed below.j Leach Inc. experienced the following events for the first two years of its operations: 2016: 1.
[The following information applies to the questions displayed below.j Leach Inc. experienced the following events for the first two years of its operations: 2016: 1. Issued $25,000 of common stock for cash. 2. Provided $94,500 of services on account 3. Provided $51,000 of services and received cash. 4. Collected $84,000 cash from accounts receivable 5. Paid $53,000 of salaries expense for the year 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 3 percent of the ending accounts receivable balance will be uncollectible 2017 1. Wrote off an uncollectible account for $800 2. Provided $103,000 of services on account. 3. Provided $47,000 of services and collected cash. 4. Collected $96,000 cash from accounts receivable 5. Paid $80,000 of salaries expense for the year 6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 3 percent of the ending accounts receivable balance will be uncollectible
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