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Consider the following account starting balances and journal transactions involving these accounts. Use T-accounts to record the starting balances and organize the offsetting entries for
Consider the following account starting balances and journal transactions involving these accounts. Use T-accounts to record the starting balances and organize the offsetting entries for the transactions. The starting balance of Cash is $14,100 The starting balance of Inventory is $4,900 The starting balance of Retained Earnings is $24,300 Date Mar 9 Cash Accounts and Explanation Retained Earnings Sold, delivered, and received payment for service with no clear associated cost Mar 10 Retained Earnings Cash Consumed good or service and paid expense with cash Mar 11 Cash Inventory Retained Earnings Sold and delivered product to customer What is the final amount in Retained Earnings? Note: No unit adjustments are necessary. Debit Credit 20 20 3 3 25 20 20 5
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