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The following events apply to Oak Consulting for Year 2: Provided $71,000 of services on account. Incurred $2,600 of operating expenses on account. Collected $50,400 of accounts receivable. Paid $37,300 cash for salaries expense. Paid $14,040 cash as a partial payment on accounts payable. Paid a $8,400 cash dividend to the stockholders.
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The following events apply to Oak Consulting for Year 2: Provided $71,000 of services on account. In...
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