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Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the starting balances and the offsetting entries for the transactions.

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Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the starting balances and 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 1. Consume good or service and pay expense of $3 2. Sell product for $40 in cash with historical cost of $32 3. Sell, deliver, and receive payment of $25 for service What is the final amount in Retained Earnings

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