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Holmes Cleaning Service began operation on January 1, Year 1. The company experienced the following events for its first year of operations. Events Affecting Year

Holmes Cleaning Service began operation on January 1, Year 1. The company experienced the following events for its first year of operations. Events Affecting Year 1:

Provided $84,000 of cleaning services on account.

Collected $76,000 cash from accounts receivable.

Paid salaries of $28,500 for the year.

Adjusted the accounts to reflect managements expectations that uncollectible accounts expense would be $1,650. The expense was determined using the percent of revenue method.

Required a. Prepare general journal entries for the above events. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

image text in transcribed

General Journal entries:

No journal entry required

Accounts receivable

Allowance for doubtful accounts

Cash

Common stock

Credit card expense

Dividends

Interest receivable

Interest revenue

Merchandise inventory

Notes receivable

Retained earnings

Salaries expense

Service revenue

Uncollectible Accounts Expense

Journal entry worksheet Provided $84,000 of cleaning services on account. Record the event. Note: Enter debits before credits

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