.. 00 %24 Ahttps://ezto.mheducation.com/ext/map/index.html?_con3Dcon&external_browser=0&launchUrl=https%253, omework G Saved Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate Required information [The following information applies to the questions displayed below.] The following transactions apply to Jova Company for Year 1, the first year of operation: 1. Issued $15,500 of common stock for cash. 2. Recognized $64,500 of service revenue earned on account. 3. Collected $57,600 from accounts receivable. 4. Paid operating expenses of $36,000. 5. Adjusted accounts to recognize uncollectible accounts expense. Jova uses the allowance method of accounting for uncollectible accounts and estimates that uncollectible accounts expense will be 2 percent of sales on account. The following transactions apply to Jova for Year 2: 1. Recognized $72,000 of service revenue on account. 2. Collected $65,600 from accounts receivable. 3. Determined that $890 of the accounts receivable were uncollectible and wrote them off. 4. Collected $300 of an account that had previously been written off. 5. Paid $48,400 cash for operating expenses. 6. Adjusted the accounts to recognize uncollectible accounts expense for Year 2. Jova estimates uncollectible accounts expense will be 1.0 percent of sales on account. Prev 1 of 5 Next > ME e here to search A ily LLJ & 3. 4. 5. 6. 7. R. 00 +. 5 96 %24 3. B BGSU Single Sign X BGSU Single Sign X (30,076 unread) - duooi ſp https://ezto.mheducation.com/ext/map/index.html?_con3con&external browser-D0&launchUrl=https%253A%252F%252Flms.mheducation.com%2 ework i Saved Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indic 77 nƏy Required information is no effect on the Accounts Titles for Retained Earnings, leave the cell blank. Not all cells will require entry.) JOVA COMPANY Accounting Equation for the Year 2 Assets Equity Accounts Titles for Retained Earnings Event NRV Liabilities Retained Common Stock Cash Accounts Receivable Bal. 37,100 X006'9 000 0 2. 3. (890) X x 009 4a. %3D x (068) (300) 5. 6. Bal. 11,220 < Req C1 Reg C2> Prev 1 of 5 Next > O A ere to search 五 ily fg fg f5 12 OL4 & %24 6. 7. 4.