The following transactions apply to Jova Company for Year 1, the first year of operation: Issued $15,500 of common stock for cash. Recognized $64,500 of service revenue earned on account. Collected $57,600 from accounts receivable. Paid operating expenses of $36,000. 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 $72,000 of service revenue on account. Collected $65,600 from accounts receivable. Determined that $890 of the accounts receivable were uncollectible and wrote them off. Collected $300 of an account that had previously been written off. Paid $48,400 cash for operating expenses. Adjusted the accounts to recognize uncollectible accounts expense for Year 2. Jova estimates uncollectible accounts expense will be 1 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. Problem 7-17A (Algo) Part a a. Identify the type of each transaction (asset source, asset use, asset exchange, or claims exchange).