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At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivablb&d. Post the beginning balances and the transactions from Parts a&d to the appropriate accounts. Cash 29.900 47,700 Beg. Balc. Show the beginning balances and the events in a horizontal statements model such as the following one: (In the Cash Flow cd-1. Record the closing entries in the general journal. (If no entry is required for a transaction/event, select No journale. What is the amount of change in retained earnings for the year? Change in retained earningsf. Prepare a post-closing trial balance. OAK CONSULTING Post-Closing Trial Balance As of December 31, Year 2 Account Titles D

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Requirement (b&d) Cash Beg Bal $29,900 3 $47,700 $39,000 $13,410 $ 8,600 Accounts Receivable Beg Bal $21,400 1 $74,700 $47,70+ + + Requirement © Oak Consulting Effect of transactions on the financial statements for year 2 Balance Sheet Income StatemeRequirement (d) Event 1 Credit General Journal Service Revenue Retained Earnings Debit $ 74,700 $ 74,700 2 Retained Earnings

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