! Required information Exercise 3-22A 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 Balance Cash Accounts receivable Accounts payable $42,000 25,000 8,400 Common stock 24,000 34,600 Retained earnings The following events apply to Oak Consulting for Year 2: 1. Provided $185,000 of services on account. 2. Incurred $45,800 of operating expenses on account 3. Collected $140,000 of accounts receivable. 4. Paid $120,000 cash for salaries expense. 5. Paid $31,400 cash as a partial payment on accounts payable. 6. Paid a $10,000 cash dividend to the stockholders. Exercise 3-22A Part d Exercise 3-22A Part d d-1. Record the closing entries in the general journal. (If required" in the first account field.) entry is required for a transaction/event, select "No journal entry no View transaction list View journal entry worksheet Debit No Event General Journal Credit Service revenue 1 185,000 Operating expenses 45,800 Salaries expense 120,000 2 45,800 Retained earnings 45,800 Retained earnings 140,000 3 Dividends 140,000