Leach Inc. experienced the following events for the first two years of its operations

Leach Inc. experienced the following events for the first two years of its operations:

2018:

1. Issued $10,000 of common stock for cash.
2. Provided $120,000 of services on account.
3. Provided $29,000 of services and received cash.
4. Collected $91,000 cash from accounts receivable.
5. Paid $16,000 of salaries expense for the year.
6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 6 percent of the ending accounts receivable balance will be uncollectible.

2019:

1. Wrote off an uncollectible account for $700.
2. Provided $140,000 of services on account.
3. Provided $25,000 of services and collected cash.
4. Collected $122,000 cash from accounts receivable.
5. Paid $28,000 of salaries expense for the year.
6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 6 percent of the ending accounts receivable balance will be uncollectible.