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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 $190,000 of cleaning services on account.
- Collected $142,500 cash from accounts receivable.
- Paid salaries of $42,000 for the year.
- Adjusted the accounts to reflect managements expectations that uncollectible accounts expense would be $1,800. The expense was determined using the percent of revenue method.
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.)
equired . Prepare general journal entries for the above events. (If no entry is required for a transaction/event, select "No journal entry equired" in the first account field.) Journal entry worksheet Provided $190,000 of cleaning services on account. Record the event. Note: Enter debits before credits. Required Prepare general journal entries for the above events. (If no entry is required for a transaction/event, select "No journal entry equired" in the first account field.) Journal entry worksheet Collected $142,500 cash from accounts receivable. Record the event. Note: Enter debits before credits. 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.) Journal entry worksheet Paid salaries of $42,000 for the year. Record the event. Note: Enter debits before credits. Required . Prepare general journal entries for the above events. (If no entry is required for a transaction/event, select "No journal entry equired" in the first account field.) Journal entry worksheet Adjusted the accounts to reflect management's expectations that uncollectible accounts expense would be $1,800. The expense was determined using the percent of revenue method. Record the event. Note: Enter debits before credits
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