Required information Part 3 of 4 (The following information applies to the questions displayed below.] Leach Inc. experienced the following events for the first two years of its operations: 10 Year 1:...

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Extracted text: Required information Part 3 of 4 (The following information applies to the questions displayed below.] Leach Inc. experienced the following events for the first two years of its operations: 10 Year 1: polnts 1. Issued $10,000 of common stock for cash. 2. Provided $78,000 of services on account. 3. Provided $36,000 of services and received cash. 4. Collected $69,000 cash from accounts receivable. 5. Paid $38,000 of salaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible. eBook Hint Year 2: Print 1. Wrote off an uncollectible account for $650. 2. Provided $88,000 of services on account. 3. Provided $32,000 of services and collected cash. 4. Collected $81,000 cash from accounts receivable. 5. Paid $65,000 of salaries 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 receivable balance will be uncollectible. teferences


Extracted text: erences c. What is the net realizable value of the accounts receivable at December 31, Year 1? Net realizable value < prev="" 7="" 8="" of="">