Reference no: EM132495433

Rosie Dry cleaning was started on January 1, 2018..It experienced the following events during its first two years of operation:

Events Affecting 2018:

1. provided $45000 of cleaning services on account.
2. Collected $39000 cash from account receivable.
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 2019:

1. Wrote off a $300 account receivable that was determined to be uncollectible.
2. Provided $62000 of cleaning services on account.
3. Collected $61000 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:

Question 1: Prepare Organize the transaction data in accounts in general journal form and post to T-account.