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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 $13,700 The starting balance of Inventory is $5,100 The starting balance of Retained Earnings is $24,500

Date Accounts and Explanation Debit Credit
Mar 9 Cash 20
Retained Earnings 20
Sold, delivered, and received payment for service with no clear associated cost
Mar 10 Retained Earnings 2
Cash 2
Consumed good or service and paid expense with cash
Mar 11 Cash 25
Inventory 20
Retained Earnings 5
Sold and delivered product to customer

What is the final amount in Retained Earnings?

Note: No unit adjustments are necessary.

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