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At September 1 2019, Mast Corporation reported the following unadjusted amounts for its accounts, each of which is considered to be a normal account balance.
At September 1 2019, Mast Corporation reported the following unadjusted amounts for its accounts, each of which is considered to be a normal account balance.
Required: By using the Accounting Equation, determine the proper amount in Retained Earnings at September 1.
Accounts Payable | $12,000 |
Accounts Receivable | 1,000 |
Cash | 84,000 |
Common Stock Dividends | 64,000 1,000 |
Equipment | 60,000 |
Note Payable | 36,000 |
Service Revenue | 42,000 |
Retained Earnings | ? |
Utilities Expense | 2,000 |
Salaries and Wages Expense | 28,400 |
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