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[The following information applies to the questions displayed below.] Holmes Cleaning Service began...

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Accounting

[The following information applies to the questions displayed below.]
Holmes Cleaning Service began operation on January 1, Year 1. The company experienced the following events for its first
year of operations.
Events Affecting Year 1:
Provided $130,000 of cleaning services on account.
Collected $97,500 cash from accounts receivable.
Paid salaries of $24,000 for the year.
Adjusted the accounts to reflect management's expectations that uncollectible accounts expense would be $2,000.
The expense was determined using the percent of revenue method.
b. Post the general journal entries to T-accounts.
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