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Required Information [The following informatlon applies to the questlons displayed below.] Holmes Cleaning Service began operation on January 1, Year 1. The company experlenced the
Required Information [The following informatlon applies to the questlons displayed below.] Holmes Cleaning Service began operation on January 1, Year 1. The company experlenced the following events for Its first year of operations. Events Affecting Year 1: 1. Provided $220,000 of cleaning services on account. 2. Collected $165,000 cash from accounts recelvable. 3. Pald salarles of $26,000 for the year. 4. Adjusted the accounts to reflect management's expectations that uncollectlble accounts expense would be $1,500. The expense was determined using the percent of revenue method. Required a. Prepare general journal entrles for the above events. (If no entry Is requlred for a transaction/event, select "No journal entry requlred" In the first account fleld.) Journal entry worksheet D Provided $220,000 of cleaning services on account. Record the event. Note: Enter debits before credits
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