Question

(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: Part 1 of 4 Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 26,900 18,600 10,800 23,400 11,300 Skipped The following events apply to Oak Consulting for Year 2: eBook Hint 1. Provided $68,000 of services on account. 2. Incurred $3,100 of operating expenses on account. 3. Collected $49,500 of accounts receivable. 4. Paid $37,400 cash for salaries expense. 5. Paid $12,510 cash as a partial payment on accounts payable. 6. Paid a $8,300 cash dividend to the stockholders. Print References Required Record these events in a general journal. (If no entry is required for a transaction/event, select "No journ first account field.) View transaction list Journal entry worksheet < A B C D E F Provided $68,000 of services on account. Note: Enter debits before credits. Event Debit Credit 1 General Journal Service revenue Operating expenses 68,000 -3,100 Salaries expense Record entry Clear entry View general journal

Answer 1

Event	General Journal	Debit	Credit
A	Account receivable	$68,000	-
	Service revenue	-	$68,000
B	Operating expense	$3,100	-
	Operating expenses payable / Accounts payable	-	$3,100
C	Cash	$49,500	-
	Accounts receivable	-	$49,500
D	Salaries expense	$37,400	-
	Cash	-	$37,400
E	Accounts payable	$12,510	-
	Cash	-	$12,510
F	Dividend	$8,300	-
	Cash	-	$8,300