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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. The following events apply to Oak Consulting for Year 2 : 1. Provided $68,300 of services on account. 2. Incurred $2,700 of operating expenses on account. 3. Collected $47,300 of accounts receivable. 4. Paid $36,200 cash for salaries expense. 5. Paid $14,580 cash as a partial payment on accounts payable. 6. Paid a $10,000 cash dividend to the stockholders. . d d. Post the beginning balances and the transactions from Part a to the appropriate accounts. Later, post the closing entries from
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