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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
9-Mar Retained Earnings 3
Cash 3
Consumed good or service and paid expense with cash
10-Mar Cash 20
Inventory 16
Retained Earnings 4
Sold and delivered product to customer
11-Mar Cash 35
Retained Earnings 35
Sold, delivered, and received payment for service with no clear associated cost
What is the final amount in Retained Earnings?

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