Requlred Information

Exercise $3-22$A $($Algo$)$ Recording events in the general journal, posting to T$-$accounts, and preparing

closing entries LO $3-1,3-2,3-3,3\mathrm{.}4$

$[$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.

The following events apply to Oak Consulting for Year $2$:

Provided $$74,600$ of services on account.

Incurred $$3,500$ of operating expenses on account.

Collected $$50,800$ of accounts receivable.

Paid $$32,400$ cash for salaries expense.

Paid $$14,580$ cash as a partial payment on accounts payable.

Paid a $$9,100$ cash dividend to the stockholders.

Exerclse $3-22$A $($Algo$)$ Part d

d$-1.$ Record the closing entries in the general joumal $($and post them to the T$-$accounts$).$

d$\mathrm{.}2.$ What is the amount of net income for the year?

Complete this question by entering your answers in the tabs below.

Record the closing entries in the general journal $($and post them to the T$-$accounts$).($If no entry is required for a transaction$/$event$,$

select $"$No journal entry required" in the first account field.$)$