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At the beginning of 2016, Oak consulting had the following normal balances in its accounts: At the beginning of 2016, Oak Consulting had the following
At the beginning of 2016, Oak consulting had the following normal balances in its accounts:
At the beginning of 2016, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts recelvable Accounts payable Common stock Retained earnings Balance $42,000 25,000 payable 24,000 8,400 34,600 The following events apply to Oak's Consulting for 2016: 1. Provided $185,000 of services on account. 2. Incurred $45,800 of operating expenses on account. 3. Collected $140,000 of accounts recelvable. 4. Paid $120,000 cash for salaries expense. 5. Paid $31,400 cash as a partial payment on accounts payable. 6. Paid an $10,000 cash dividend to the stockholdersStep by Step Solution
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