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Assume Retained Earnings had a January 1, 2020 balance of $5,000. During January, dividends of $3,000 were declared but not paid, and a profit of

Assume Retained Earnings had a January 1, 2020 balance of $5,000. During January, dividends of $3,000 were declared but not paid, and a profit of $7,000 was realized. What is January 31, 2020, post-closing balance in Retained Earnings

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