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during the year jessias firm had net income of $700000. it was a record year , but most of the sales were on credit and
during the year jessias firm had net income of $700000. it was a record year , but most of the sales were on credit and have not yet been paid. in fact, there are still $400000 waiting for collection . management belives they will be paid , but some of the terms allow almost a year before that occurs . the firms also paid a dividend of 4000. how much , if at all, did reatained earnings change this year?
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