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During Its first year of operation. Cade Company experienced the following events. Issued common stock for $7,000 cash. Earned $5,000 of cash revenue. Paid $3.000
During Its first year of operation. Cade Company experienced the following events. Issued common stock for $7,000 cash. Earned $5,000 of cash revenue. Paid $3.000 of cash expenses. Paid cash dividends amounting to $1,000. Before closing on December 31, the balance In the retained earning account would be $2.000. $1.000. zero. $8.000
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