Question: Can i have a detailed solution please At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts. The following
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 : 1. Provided $73,900 of services on account. 2. Incurred $2,600 of operating expenses on account. 3. Collected $46,900 of accounts receivable. 4. Paid $34,100 cash for salaries expense. 5. Paid $12,060 cash as a partial payment on accounts payable. 6. Paid a $9,000 cash dividend to the stockholders. 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 : 1. Provided $73,900 of services on account. 2. Incurred $2,600 of operating expenses on account. 3. Collected $46,900 of accounts receivable. 4. Paid $34,100 cash for salaries expense. 5. Paid $12,060 cash as a partial payment on accounts payable. 6. Paid a $9,000 cash dividend to the stockholders
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