Question: i keep getting this answer partially wrong and i dont know what im doing wrong 1 Rosie Dry Cleaning was started on January 1, Year

1 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 11 1. Provided $45,000 of cleaning services on account. 2. Collected $39,000 cash from accounts receivable. mes Hire Pun 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 cleaning services on account 3. Collected $61,000 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 6. Organize the transaction data in accounts under an accounting equation for each year b. Determine the following amounts: 1. (1) Net income for Year 1 2. (2) Net cash flow from operating activities for Year 1 3. (3) Balance of accounts receivable at the end of Year 1 4 (4) Net realizable value of accounts receivable at the end of Year 1 c. Determine the following amounts: (1) Net income for Year 2 2 (2) Net cash flow from operating activities for Year 2 3. (3) Balance of accounts receivable at the end of Year 2 4 (4) Net realizable value of accounts receivable at the end of Year 2 (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. -Determine the following amounts: (1) Net Income for Year 2 2 (2) Net cash flow from operating activities for Year 2 3. (3) Balance of accounts receivable at the end of Year 2 4. (4) Net realizable value of accounts receivable at the end of Year 2 Complete this question by entering your answers in the tabs below. Reg A1 Event Bal Organize the transaction data in accounts under an accounting equation for Year 2. (Enter any decreases to account with a minus sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank, Not all cells require entry.). A 2 3 4 Bat Reg A2 Cash Assets 30,000+ + 61,000+ 100 000 Req B Balance Sheet ROSIE DRY CLEANING Accounting Equation for the Year 2 NRV Accounts Receivable Reg C 6.000- 62.000- (61.000)- (620)- 6300 Equity Accounts Titles for Retained Earnings Retained Earnings 44,550 62.000 Service revenue (620) Uncollectible accounts expense 105,930
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