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[The following information applies to the questions displayed below.] At the beginning of Year 2, Oak...

[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:

Account Balance
Cash $ 31,800
Accounts receivable 20,900
Accounts payable 14,900
Common stock 23,900
Retained earnings 13,900


The following events apply to Oak Consulting for Year 2:

  1. Provided $65,500 of services on account.
  2. Incurred $3,500 of operating expenses on account.
  3. Collected $46,800 of accounts receivable.
  4. Paid $39,100 cash for salaries expense.
  5. Paid $16,560 cash as a partial payment on accounts payable.
  6. Paid a $9,600 cash dividend to the stockholders.

View transaction list Journal entry worksheet < А. B с > Record the closure of service revenue. Note: Enter debits before creView transaction list Journal entry worksheet < A В. C Record the closure of expenses account. Note: Enter debits before credView transaction list Journal entry worksheet < А в с Record the payment of dividends. Note: Enter debits before credits. EveRecord these events in a general journal. (If no entry is required for a transaction/event, select No first account field.)Record these events in a general journal. (If no entry is required for a transaction/event, select No first account field.)Record these events in a general journal. (If no entry is required for a transaction/event, select No first account field.)Record these events in a general journal. (If no entry is required for a transaction/event, select No first account field.)Record these events in a general journal. (If no entry is required for a transaction/event, select No first account field.)Record these events in a general journal. (If no entry is required for a transaction/event, select No first account field.)

View transaction list Journal entry worksheet < А. B с > Record the closure of service revenue. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal
View transaction list Journal entry worksheet < A В. C Record the closure of expenses account. Note: Enter debits before credits. Event General Journal Debit Credit 2 Record entry Clear entry View general journal
View transaction list Journal entry worksheet < А в с Record the payment of dividends. Note: Enter debits before credits. Event General Journal Debit Credit 3 Record entry Clear entry View general journal
Record these events in a general journal. (If no entry is required for a transaction/event, select "No first account field.) View transaction list Journal entry worksheet < A B C D E F Provided $65,500 of services on account. Note: Enter debits before credits. Event General Journal Debit Credit 1 Service revenue Record entry Clear entry View general journal
Record these events in a general journal. (If no entry is required for a transaction/event, select "No first account field.) View transaction list Journal entry worksheet A B C D E F Incurred $3,500 of operating expenses on account. Note: Enter debits before credits. Event General Journal Debit Credit 2 Record entry Clear entry View general journal
Record these events in a general journal. (If no entry is required for a transaction/event, select "No first account field.) View transaction list Journal entry worksheet A B C D E F Collected $46,800 of accounts receivable. Note: Enter debits before credits. Event General Journal Debit Credit 3 Record entry Clear entry View general journal
Record these events in a general journal. (If no entry is required for a transaction/event, select "No first account field.) View transaction list Journal entry worksheet A B C D E F Paid $39,100 cash for salaries expense. Note: Enter debits before credits. Event General Journal Debit Credit 4 Record entry Clear entry View general journal
Record these events in a general journal. (If no entry is required for a transaction/event, select "No first account field.) View transaction list Journal entry worksheet A B C D E F Paid $16,560 cash as a partial payment on accounts payable. Note: Enter debits before credits. Event General Journal Debit Credit 5 Record entry Clear entry View general journal
Record these events in a general journal. (If no entry is required for a transaction/event, select "No first account field.) View transaction list Journal entry worksheet A B C D E F Paid an $9,600 cash dividend to the stockholders. Note: Enter debits before credits. Event General Journal Debit Credit 6 Record entry Clear entry View general journal
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