The following events apply to Oak's Consulting for 2016: 1. Provided $185,000 of services on account. 2. Incurred $45,800 of operating expenses on account. 3. Collected $140,000 of accounts receivable. 4. Paid $120,000 cash for salaries expense. 5. Paid $31,400 cash as a partial payment on accounts payable. 6. Paid an $10,000 cash dividend to the stockholders.

Questions 1, 2, and 3 on the journal entry worksheet, Thank you!

At the beginning of 2016, Oak Consulting had the following normal balances in its accounts: AccountCashAccountsrecelvableAccountspayableCommonstockRetainedearningsBalance$42,00025,0008,40024,00034,600 The following events apply to Oak's Consulting for 2016 : 1. Provided $185,000 of services on account. 2. Incurred $45,800 of operating expenses on account. 3. Collected $140,000 of accounts recelvable. 4. Pald $120,000 cash for salarles expense. 5. Pald $31,400 cash as a partial payment on accounts payable. 6. Pald an $10,000 cash dividend to the stockholders. d-1. Record the closing entrles in the general joumal. (If no entry is requlred for a transaction/event, select "No journal entry required" In the first account fleld.) Journal entry worksheet d-2. What is the amount of net Income for the year