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Expo & Burts adjusted trial balance is as follows: Account Title Debits Credits Accounts payable 90,000 Accounts receivable 170,000 Accumulated depreciation equipment 260,000 Common stock

Expo & Burts adjusted trial balance is as follows:

Account Title

Debits

Credits

Accounts payable

90,000

Accounts receivable

170,000

Accumulated depreciation equipment

260,000

Common stock

490,000

Cash

26,000

Cost of goods sold

480,000

Depreciation expense

60,000

Equipment

700,000

Interest expense

4,000

Inventory

150,000

Note payable (due in six months)

60,000

Rent expense

30,000

Retained earnings

62,000

Salaries payable

8,000

Sales revenue

770,000

Salaries expense

120,000

TOTALS

1,740,000

1,740,000

What is the credict impact on retained earnings that the firm would report in their post-closing trial balance?

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