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Michelle s Accounting Service began operation on January 1 2013 The company experienced the following events for its first year of operations Events Affecting

Michelle s Accounting Service began operation on January 1, 2013. The company experienced the following events for its first year of operations: Events Affecting 2013: 1. Provided $96,000 of accounting services on account. 2. Collected $80,000 cash from accounts receivable. 3. Paid salaries of $32,000 for the year. 4. Adjusted the accounts to reflect management s expectations that uncollectible accounts expense would be $1,600. Required a. Prepare general journal entries for the above events. b. Post the general journal entries to T-accounts. c. Prepare an income statement, balance sheet, and statement of cash flows for 2013.

May 06 2020 View more View Less

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