The Solo Company was started on January 1, 2007. The following events occurred during 2007 and 2008. 2007 1. Provided $4,000 of services on account. 2. Collected $3,000 cash from accounts receivable. 3. Estimated uncollectible accounts expense to be 1.5 percent of 2007 credit sales. 1.5./. X 4000 = 60 2008 1. Wrote off $40 of accounts receivable that were deemed uncollectible. 2. Provided $6,500 of services on account. 3. Collected $5,400 cash from accounts receivable. 4. Estimated uncollectible accounts expense to be 1 percent of 2008 credit sales. Record the events and get net income and net realizable accounts receivables in 2007 & 2008 using the allowance method