Question

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 $13,500 of common stock for cash. 2. Recognized $68,500 of service revenue earned on account. 3. Collected $60,800 from accounts receivable. 4. Paid operating expenses of $35,600. 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 $76,000 of service revenue on account. 2. Collected $68,800 from accounts receivable. 3. Determined that $970 of the accounts receivable were uncollectible and wrote them off. 4. Collected $200 of an account that had previously been written off. 5. Paid $49,200 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. Required Complete the following requirements for Year 1 and Year 2. Complete all requirements for Year 1 prior to beginning the requirements for Year 2.
Just need help filling out the rest of the boxes.

Answer 1

EVENT	ASEETS					LIABLITIES	EQUITY				ACCOUNT TITLE
	CASH	+	NRV ACCOUNT RECEVIABLE	=		+	COMMON STOCK	+	RETAINED EARNING
BAL.	38700		6330		0		13500		31530
1			76000						76000	SERVICE REVENUE
2	68800		-68800
3			-970						-970	UNCOLLECTIBLE ACCOUNT
4	200								200	UNCOLLECTIBLE RECOVERED ACCOUNT
5	-49200								-49200	OPERATING EXPENSE
6			-760						-760	UNCOLLECTIBLE ACCOUNT
BAL.	58500		11800		0		13500		56800