At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 30,000 23, 200 10, 200 31,400 11,600 The following events apply to Oak Consulting for Year 2: 1. Provided $66,700 of services on account. 2. Incurred $2,600 of operating expenses on account. 3. Collected $47,600 of accounts receivable. 4. Paid $31,900 cash for salaries expense. 5. Paid $11,520 cash as a partial payment on accounts payable. 6. Paid a $8,700 cash dividend to the stockholders. b & d. Post the beginning balances and the transactions from Parts a and d to the appropriate accounts. Beginning Balance 3. Debit Ending Balance 30,000 47,600 25,480 Cash 31,900 11,520 8,700 Credit 4. 5. 6. X Answer is not complete. Debit Beginning Balance 1. Ending Balance Accounts Receivable 23,200 66,700 42,300 47,600 Credit 3. ! Required information Beginning Balance 5. Debit Ending Balance Accounts Payable 11,520 0 0 8,920 Credit 2,600 2. 0 0 Debit Beginning Balance Ending Balance Common Stock 0 0 31,400 0 0 31,400 Credit Required information Beginning Balance Debit Ending Balance Retained Earnings 8,700 34,500 0 11,600 66,700 0 35,100 Credit Debit Beginning Balance 6. Ending Balance Dividends 8,700 0 0 8,700 Credit Beginning Balance Debit Ending Balance Service Revenue 66,700 0 0 66,700 0 Credit 1. Debit Beginning Balance 2. Ending Balance Operating Expenses 2,600 0 0 2,600 0 Credit Ending Balance Beginning Balance 4. Debit Ending Balance Salaries Expense 31,900 31,900 Credit Ending Balance