7 Love Company's accounting records show an after-closing balance of $20,700 in its Retained Earnings account on December 31, Year 2. During the Year 2 accounting cycle, Love earned $17,700 of revenue, incurred $10,500 of expense, and paid $2,800 of dividends. Revenues and expenses were recognized evenly throughout the accounting period. 1.5 points eBook Hint References Required a. Determine the balance in the Retained Earnings account as of January 1, Year 3. b. Determine the balance in the temporary accounts as of January 1, Year 2. c. Determine the after-closing balance in the Retained Earnings account as of December 31, Year 1. d. Determine the balance in the Retained Earnings account as of June 30, Year 2. a. Balance in the retained earnings, January 1, Year 3 b. Balance in the temporary accounts, January 1, Year 2 c. Closing retained earnings, December 31, Year 1 d. Balance in the retained earnings, June 30, Year 2

Love Company's accounting records show an after-closing balonce of $20,700 in its Retained Earnings account on December 31 , Year 2 During the Year 2 accounting cycle, Love earned $17,700 of revenue, incurred $10,500 of expense, and pald $2,800 of dividends Revenues and expenses were recognized evenly throughout the accounting period Required a. Determine the balance in the Retained Earnings account as of January 1, Year 3 . b. Determine the balance in the temporary accounts as of January 1, Year 2 . c. Determine the atter-closing balance in the Retained Earnings account as of December 3t, Year 1 . d. Determine the balance in the Retained Earnings account as of June 30. Year 2