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QS 13-6 Analyzing retained earnings LO2 The Retained Earnings account for Callaho Inc. is shown below: Retained Earnings 50,000 120,000 (Balance Jan. 1/14) 1

QS 13-6 Analyzing retained earnings LO2 The Retained Earnings account for Callaho Inc. is shown below: Retained Earnings 50,000 120,000 (Balance Jan. 1/14) 1 23 X 300,000 Calculate X (Balance Dec. 3114) What does X represent? What caused the debit of $50,000? Page 730

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