Question: first and last photo are the same, sorry please prepare the following financial statements with tbe information provided Events Affecting Year 1: 1. Provided $210,000





Events Affecting Year 1: 1. Provided $210,000 of cleaning services on account. 2. Collected $157,500 cash from accounts receivable 3. Paid salaries of $36.000 for the year 4.Adjusted the accounts to reflect management's expectations thet uncollectible accounts expense would be $1,600. The expense was determined using the percent of revenue method. Cash Service Revenue Beg. Bal. Beg. Bal End. Bal. End. Bal. Accounts Receivable Salaries Expense Beg. Bal. Beg. Bal End. Bal. 0 End. Bal. 0 Allowance for Doubtful Accounts Uncollectible Acctounts Expense Beg. Bal. Beg. Bal. End. Bal. End Bal, HOLMES CLEANING SERVICE Income Statement For the Year Ended December 31, Year 1 Operating expenses Total operating expenses 0 HOLMES CLEANING SERVICE Balance Sheet As of December 31, Year 1 Assets Total assets $ Liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity $ HOLMES CLEANING SERVICE Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flow from operating activities Net cash flow from operating activities $ 0 Cash flows from investing activities Cash flows from financing activities Net change in cash $ Ending cash balance Events Affecting Year 1: 1. Provided $210,000 of cleaning services on account 2. Collected $157,500 cash from accounts receivable. 3. Paid salaries of $36,000 for the year 4.Adjusted the accounts to reflect management's expectations that uncollectible accounts expense would be $1,600. The expense was determined using the percent of revenue method. [The following information applies to the questions displayed below] Holmes Cleaning Service began operation on January 1, Year 1. The company experienced the following events for its first year of operations: Events Affecting Year 1: 1. Provided $210,000 of cleaning services on account 2. Collected $157,500 cash from accounts receivable. 3. Paid salaries of $36,000 for the year 4. Adjusted the accounts to reflect management's expectations thet uncollectible accounts expense would be $1,600. The expense was determined using the percent of revenue method. Required a. Prepare general journal entries for the above events. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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