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Year one information is at the Top and Year 2 information as at the bottom of the first picture of the instructions. All the information to answer these questions is here. Thank you!

Prepare the balance sheet for Year 2. (Enter amounts to be deducted with a minus sign. Round your answers to the nearest whole dollar amounts.) Exercise 7.7A (Algo) Effect of recognizing uncollectible accounts on the financial statements: percent of receivables allowance method LO7.2 [The following information applies to the questions displayed below.] Leach Incorporated experlenced the following events for the first two years of its operations. Year 1: 1. Issued $28,000 of common stock for cash. 2. Provided $97,800 of services on account. 3. Provided $54,000 of services and recelved cash. 4. Collected $87,000 cash from accounts recelvable. 5. Pald $56,000 of salarles expense for the year. 6. Adjusted the accounting records to reflect uncollectlble accounts expense for the year. Leach estimates that 5 percent of the ending accounts recelvable balance will be uncollectlble. 7. Closed the revenue account. 8. Closed the expense accounts. Year 2: 1. Wrote off an uncollectlble account for $1,550. 2. Provided $106,000 of services on account. 3. Provided $50,000 of services and collected cash. 4. Collected $99,000 cash from accounts recelvable. 5. Pald $83,000 of salarles expense for the year. 6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent of the ending accounts recelvable balance will be uncollectible. 7. Closed the revenue account. 8. Closed the expense accounts. Exercise 7-7A (Algo) Part d 1. Record the Year 2 events In general journal form and post them to T-accounts. Prepare the Income statement, statement of change n stockholders' equlty, balance sheet, and statement of cash flows for Year 2 . What is the net realizable value of the accounts ecelvable at December 31, Year 2? Complete this question by entering your answers in the tabs below. Prepare the statement of cash flows for Year 2. (Enter cash outflows with a minus sign.) Prepare the statement of changes in stockholders' equity for Year 2. Post the Year 2 events to T-accounts. (Round your answers to the nearest whole dollar amounts.) d. Record the Year 2 events In general journal form and post them to T-accounts. Prepare the Income statement, statement of changes n stockholders' equity, balance sheet, and statement of cash flows for Year 2 . What is the net realizable value of the accounts recelvable at December 31, Year 2? Complete this question by entering your answers in the tabs below. Prepare the income statement for Year 2. (Round your answers to the nearest whole dollar amounts.) Record the Year 2 events in general journal form. (If no entry is required for a transaction/event, select "No journal entry requir the first account field. Round your answers to the nearest whole dollar amounts.) d. Record the Year 2 events In general Journal form and post them to T-accounts. Prepare the Income statement, statement of changes In stockholders' equlty, balance sheet, and statement of cash flows for Year 2 . What is the net reallzable value of the accounts recelvable at December 31, Year 2? Complete this question by entering your answers in the tabs below. What is the net realizable value of the accounts receivable at December 31, Year 2? (Round your answer to the nearest whole dollar amounts.)

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