It says answer is not complete, but I do not know what I am missing: Exercise $7-2$A $($Static$)$ Accounting for uncollectible accounts: Allowance method LO $7-1$

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 $1$:

Provided $$84,000$ of cleaning services on account.

Collected $$76,000$ cash from accounts receivable.

Paid salaries of $$28,500$ for the year.

Adjusted the accounts to reflect management$$s expectations that uncollectible accounts expense would be $$1,650.$ The expense was determined using the percent of revenue method.

Required

Organize the transaction data in accounts under an accounting equation.

Prepare an income statement, a balance sheet, and a statement of cash flows for Year $1.$

Exercise $7-2$A $($Static$)$ Accounting for uncollectible accounts: Allowance method LO $7-1$

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 $1$:

Provided $$84,000$ of cleaning services on account.

Collected $$76,000$ cash from accounts receivable.

Paid salaries of $$28,500$ for the year.

Adjusted the accounts to reflect management's expectations that uncollectible accounts expense would be $$1,650.$ The expense

was determined using the percent of revenue method.

Required

a$.$ Organize the transaction data in accounts under an accounting equation.

b$.$ Prepare an income statement, a balance sheet, and a statement of cash flows for Year $1.$

Complete this question by entering your answers in the tabs below.

Req B$2$

Organize the transaction data in accounts under an accounting equation.

Assessment Tool iFrame ecreases to account balances with a minus sign. Leave cells blank if no input is needed.

Year $1$

Events

Net Realizable Value of

Accounts Receivable

Retained

Earnings

Prepare an income statement for Year $1.$

Prepare a Dalance sneet for Year $1.$

Req B$3$

Prepare a statement of cash flows for Year $1.$

Note: Cash outflows should be indicated with a minus sign.