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

$1.$ Issued $$15,000$ of common stock for cash

$2.$ Recognized $$70,000$ of service revenue earned on account.

$3.$ Collected $$62,000$ from accounts recelvable.

$4.$ Pald operating expenses of $$35,900.$

$5.$ Adjusted accounts to recognize uncollectible accounts expense, Jova uses the allowance metnod 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 $2$:

$1.$ Recognized $$77,500$ of service revenue on account.

$2.$ Collected $$70,000$ from accounts recelvable.

$3.$ Determined that $$1,000$ of the accounts receivable were uncollectible and wrote them off.

$4.$ Collected $$200$ of an account that had previously been written off.

$5.$ Pald $$49,500$ cash for operating expenses.

$6.$ 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.

Required

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

a$.$ Identify the type of each transaction $($asset source, asset use, asset exchange, or claims exchange$).$