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Required information [The following information applies to the questions displayed below) Holmes Cleaning Service began operation on January 1, Year 1. The company experienced the
Required information [The following information applies to the questions displayed below) 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: 1. Provided $84,000 of cleaning services on account. 2. Collected $76,000 cash from accounts receivable. 3. Pald salaries of $28,500 for the year. 4. Adjusted the accounts to reflect management's expectations that uncollectible accounts expense would be $1,650. The expense was determined using the percent of revenue method. b. Post the general Journal entries to T-accounts Cash Service Revenue Beg Bal Beg Bal End. Bal Endal Accounts Receivable Salaries Expanse Bagal Beg Bal Eind Bal End Bar Allowance for Doubtful Accounts Uncollectible Accounts Expense
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