The May transactions of Hanschu Corporation were as follows.

May 4 Paid $700 due for supplies previously purchased on account.
May 7 Performed advisory services on account for $6,800.
May 8 Purchased supplies for $850 on account.
May 9 Purchased equipment for $1,000 in cash.
May 17 Paid employees $530 in cash.
May 22 Received bill for equipment repairs of $900.
May 29 Paid $1,200 for 12 months of insurance policy. Coverage begins June 1.

Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Listed below are several transactions that took place during the first two years of operations for the law firm of pete, pete, and roy.year 1 year 2amounts billed to clients for services rendered $ 170,000 $ 220,000 cash collected from clients 160,000 190,000 cash disbursements salaries paid to employees for services rendered during the year 90,000 100,000 utilities 30,000 40,000 purchase of insurance policy 60,000 0 in addition, you learn that the company incurred utility costs of $35,000 in year 1, that there were no liabilities at the end of year 2, no anticipated bad debts on receivables, and that the insurance policy covers a three-year period.required: 1. & 3. calculate the net operating cash flow for years 1 and 2 and determine the amount of receivables from clients that the company would show in its year 1 and year 2 balance sheets prepared according to the accrual accounting model.2. prepare an income statement for each year according to the accrual accounting model.