Exercise 3-22A (Algo) Recording events in the general journal, posting to T-accounts, and preparing closing entries LO 3-1, 3-2, 3-3, 3-4

Skip to question

[The following information applies to the questions displayed below.] At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts.

Account	Balance
Cash	$34,200
Accounts receivable	21,500
Accounts payable	11,400
Common stock	31,100
Retained earnings	13,200

The following events apply to Oak Consulting for Year 2:

1. Provided $71,700 of services on account.
2. Incurred $3,100 of operating expenses on account.
3. Collected $48,800 of accounts receivable.
4. Paid $32,000 cash for salaries expense.
5. Paid $13,050 cash as a partial payment on accounts payable.
6. Paid a $9,100 cash dividend to the stockholders.

Exercise 3-22A (Algo) Part a

Required Record these transactions in a general journal. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Journal entry worksheet Provided $71,700 of services on account. Note: Enter debits before credits. Journal entry worksheet Incurred $3,100 of operating expenses on account. Note: Enter debits before credits. Journal entry worksheet Collected $48,800 of accounts receivable. Note: Enter debits before credits. Journal entry worksheet Paid $32,000 cash for salaries expense. Note: Enter debits before credits. Journal entry worksheet $13,050 cash as a partial payment on accounts payable. Note: Enter debits before credits. Journal entry worksheet Paid an $9,100 cash dividend to the stockholders. Note: Enter debits before credits