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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 $9,900 The starting balance of Inventory is $3,800 The starting balance of Retained Earnings is $21,400 Date Accounts and Explanation Debit Credit Mar 9 Retained Earnings Cash Consumed good or service and paid expense with cash Mar 10 Cash 40 Inventory Retained Earnings Sold and delivered product to customer 32 8 Mar 11 Cash 25 Retained Earnings Sold, delivered, with no clear associated cost 25 and received payment for service What is the final amount in Retained Earnings
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