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Required Information (The following Information applies to the questions displayed below.] At the beginning of Year 2, Oak Consulting had the following normal balances in
Required Information (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: Recount Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 28,700 23,100 14,000 23,600 14,200 The following events apply to Oak Consulting for Year 2: 1. Provided $70,500 of services on account. 2. Incurred $2,800 of operating expenses on account. 3. Collected $49,200 of accounts receivable. 4. Pald $33,300 cash for salaries expense. 5. Pald $15,120 cash as a partial payment on accounts payable. 6. Pald a $9,400 cash dividend to the stockholders. Journal entry worksheet > Record the closure of expense accounts. Note: Enter debits before credits. Event General Journal Debit Credit 2 Record entry Clear entry View general journal Journal entry worksheet >
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