Chapter 7 : homework

need required A please

Rosie Dry Cleaning was started on January 1, Year 1. It experienced the following events during its first two years of operation. Events Affecting Year 1 1. Provided $45,000 of cleaning services on account. 2. Collected $39,000 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. Events Affecting Year 2 1. Wrote off a $300 account receivable that was determined to be uncollectible: 2. Provided $62,000 of deaning services on account. 3. Collected $6t,000 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 Thaccounts b. Determine the following amounts: \begin{tabular}{|l|l|l|l|} \hline Year 1 & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Yeal 2 & & & \\ \hline & & & \\ \hline Year 1 & & & \\ \hline & & & \\ \hline & & & \\ \hline Bal. & & & \\ \hline Year 2 & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Allowance for Doubtful Accounts