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ascounting. Adama Corp. prepared the following unadjusted trial balance as of 12/31/2020: Debit Credit Cash 43,000 Accounts receivable 60,000 Supplies 14,000 Prepaid expenses 9,000 Property,
ascounting.
Adama Corp. prepared the following unadjusted trial balance as of 12/31/2020: Debit Credit Cash 43,000 Accounts receivable 60,000 Supplies 14,000 Prepaid expenses 9,000 Property, plant, and equipment 145,000 Accounts payable 52,000 Notes payable 130,000 Common stock 20,000 Retained earnings 11,000 Revenue 270,000 Salary expense 160,000 Rent expense 38,000 Utilities expense 14.000 TOTALS 483,000 483,000 Based on this unadjusted trial balance, what amount of retained earnings will Adama Corp. report on its 12/31/2020 Balance Sheet Step by Step Solution
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