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\begin{tabular}{|l|l|r|r|} \hline 2 & Listed below are several transactions that took place during the first...

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Accounting

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\begin{tabular}{|l|l|r|r|} \hline 2 & Listed below are several transactions that took place during the first two years of operations for an accounting firm: \\ \hline 3 & & & \\ \hline 4 & & Year 1 & Year 2 \\ \hline 5 & Amounts billed to clients for services rendered & $260,000 & $325,000 \\ \hline 6 & Cash collected from clients & 208,000 & 293,000 \\ \hline 7 & Cash disbursements: & & \\ \hline 8 & Salaries paid to employees for services rendered during the year & 104,000 & 130,000 \\ \hline 9 & Utilities & 62,000 & 87,000 \\ \hline 10 & Purchase of insurance policy & 64,000 & 0 \\ \hline 11 & Additional information: & & \\ \hline 12 & Utility costs year 1 & & 50,000 \\ \hline 13 & Liabilities at the end of year 2 & & 0 \\ \hline 14 & Anticipated bad debts on receivables. & & 0 \\ \hline 15 & Insurance policy term & & 4 vears. \\ \hline 16 & & & \\ \hline \end{tabular}

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