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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 $12,500 The starting balance of Inventory is $5,200 The starting balance of Retained Earnings is $23,900 Date Accounts and Explanation Debit Credit Mar 9 Retained Earnings Cash Consumed good or service and paid expense with cash Mar 10 Cash 20 16 Inventory Retained Earnings Sold and delivered product to customer 4 Mar 11 Cash 35 Retained Earnings Sold, delivered, and received with no clear associated cost 35 payment for service What is the final amount in Retained Earnings
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