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Frosty Inc. has the following balances on December 31 prior to closing entries: $42.800 9,800 8,600 24,800 Retained Earnings, Jan. 1 Accounts Payable Dividends 2,200

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Frosty Inc. has the following balances on December 31 prior to closing entries: $42.800 9,800 8,600 24,800 Retained Earnings, Jan. 1 Accounts Payable Dividends 2,200 9,300 Based upon the balances above, what net adjustment would be made to Retained Earnings due to closing entries? O Increase of $16,800 O Increase of $17,800 O Increase of $15,800 O Increase of $18,800

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