In its first year of operation Froggie company's revenue for the year amounted to exist5,000. Cash collections of accounts receivable amounted to exist2300, Expenses for the period were exist2, 100. The company paid dividends of exist450. Net income for the period was exist1, 200. exist2, 900. exist2, 850. exist2, 450. Using the same facts from question one, what is the ending balance in Retained Earnings? exist1, 200. exist2, 900. exist2, 850. exist2, 450. Benson Co. purchased a building and paid the full purchase price in cash. The journal entry necessary to record this event includes a: debit to Building and a debit to Cash. debit to Cash and a credit to Building. credit to Building and a credit to Cash debit to Building and a credit to Cash. Jack's Snow Removal Company received a cash advance of exist6,000 on December 1, 2016 to provide services during the months of December, January, and February. The 2016 year- end adjustment to recognize the partial expiration of the contract will increase assets by exist2,000 decrease in liability by exist2,000 increase liabilities by exist2,000 increase assets by exist2,000 and increase equity by exist2,000