Required information 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 [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 Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $34,900 21,800 13,400 31,300 12,000 The following events apply to Oak Consulting for Year 2: 1. Provided $67,900 of services on account. 2. Incurred $3,100 of operating expenses on account. 3. Collected $47,900 of accounts receivable. 4. Paid $40,000 cash for salaries expense. 5. Paid $14,850 cash as a partial payment on accounts payable. 6. Paid a $9,600 cash dividend to the stockholders. Exercise 3-22A (Algo) T accounts b. & d. Post the beginning balances and the transactions from Part a to the appropriate accounts. Later, post the closing entries from Part d. Beg. Bal 3. Cash Accounts Receivable 34,900 47,900 Beg. Bal 21,800 67,900 40,000 47,900 14,850 9,600 End. Bal 18,350 End. Bal 41,800 Accounts Payable Common Stock Beg. Bal 0 13,400 Beg. Bal 31,300 3,100 5. 14,850 End. Bal 1,650 End. Bal 31,300