1 Rosie Dry Cleaning was started on January 1, Year 1. It experienced the following events during its first two years of operation. 33.33 points Events Affecting Year 1 1. Provided $26,580 of cleaning services on account. 2. Collected $21,264 cash from accounts receivable. 3. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account. eBook Events Affecting Year 2 Print ? r References 1. Wrote off a $199 account receivable that was determined to be uncollectible. 2. Provided $31,019 of cleaning services on account. 3. Collected $27,452 cash from accounts receivable. 4. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account. Required a. Record the events for Year 1 and Year 2 (including closing entries for Year 1) in T-accounts. b. Determine the following amounts: (1) Net Income for Year 1. (2) Net cash flow from operating activities for Year 1. (3) Balance of accounts receivable at the end of Year 1. (4) Net realizable value of accounts receivable at the end of Year 1. c. Repeat Requirement b for the Year 2 accounting period. Vyuncun 1 HYUCU yuncu Record the events for Year 1 and Year 2 (including closing entries for Year 1) in T-accounts. (Round your answers to nearest whole dollar.) Cash Retained Earnings 33.33 points Year 1 Beg. Bal. 2. 21,264 cl 266 26,580 l Bal. 21,264 End. Bal. 26,314 eBook Year 2 3 27,452 Print End. Bal. 48,716 Accounts Receivable References Service Revenue Year 1 Year 1 1. 26,580 21,264 2 cl 26,580 26,580 1. 5,316 Bal Bal. Year 2 2. Year 2 31,019 cl 31,019 31,019 2. 1991. 27,452 3. End. Bal 8,684 End. Bal. Allowance for Doubtful Accounts Uncollectible Accounts Expense Year 1 Year 1 3 266 3. 266 266 cl Bal 266 Bal Year 2 1. 1 Year 2 4. 199 3114 199 311 End. Bal 378 End. Bal. 112 Complete this question by entering your answers in the tabs below. Required A Required B Required C Determine the following amounts: (Round your intermediate calculations to nearest whole dollar.) (1) Net income for Year 1. (2) Net cash flow from operating activities for Year 1. (3) Balance of accounts receivable at the end of Year 1. (4) Net realizable value of accounts receivable at the end of Year 1. Show less $ 21,264 (1) Net income for Year 1 (2) Net cash flow from operating activities for Year 1 (3) Balance of accounts receivable at the end of Year 1 (4) Net realizable value of accounts receivable at the end of Year 1 Complete this question by entering your answers in the tabs below. Required A Required B Required C Repeat Requirement b for the Year 2 accounting period. (Round your intermediate calculations to nearest whole dollar.) (1) Net income for Year 2 (2) Net cash flow from operating activities for Year 2 (3) Balance of accounts receivable at the end of Year 2 (4) Net realizable value of accounts receivable at the end of Year 2