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The following events apply to Oak Consulting for Year 2: 1. Provided $72,500 of services on account. 2. Incurred $2,500 of operating expenses on account.
The following events apply to Oak Consulting for Year 2: 1. Provided $72,500 of services on account. 2. Incurred $2,500 of operating expenses on account. 3. Collected $50,500 of accounts receivable. 4. Paid $35,500 cash for salaries expense. 5. Paid $11,430 cash as a partial payment on accounts payable. 6. Paid a $9,400 cash dividend to the stockholders. Exercise 3-22A (Algo) Part a Required Record these transactions in a general journal. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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