Year 1 : 1. Issued $20,000 of common stock for cash 2. Provided $89,000 of services on account. 3. Provided $46,000 of services and recelved cash. 4. Collected $79,000 cash from accounts recelvable 5 . Paid $48,000 of salarles expense for the year. 5. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 4 percent of the ending accounts recelvable balance will be uncollectible. 7. Closed the revenue account. 8. Closed the expense accounts. Year 2 1. Wrote off an uncollectible account for $1,150. 2. Provided $98,000 of services on account. 3. Provided $42,000 or services and collected cash. 4. Collected $91,000 cash from accounts recelvable 5. Pald $75,000 or salarles expense for the year. 5. Adjusted the accounts to reflect uncollectible accounts expense for the year Leach estimates that 4 percent of the ending accounts recelvable balance will be uncoliectible. 7. Closed the revenue account. 8. Closed the expense accounts. Exercise 7-7 A (Algo) Part b b. Prepare the income statement, statement of changes in stockholiders' equity, baionce sheet, and statement of cash flows for Year