QUESTION 8 The following is the trial balance of ABC Company as of December 31: Debit Credit Cash $12,500 Accounts Receivable $ 4,500 Accounts Payable $3,000 Common Stock $7,600 Retained Earnings $5,000 Revenues $2,800 Expenses $ 1,400 Totals $18,400 $18,400 After closing entries, the Retained Earnings would have a balance of: a. $7,800 b. $9,200 C. $6,400 d. $18,400 QUESTIONS The following is the trial balance of ABC Company as of December 31: Debit Credit Cash $12,500 Accounts Receivable $ 4,500 Accounts Payable $3,000 Common Stock $7,600 Retained Earnings $5,000 Revenues $2,800 Expenses $ 1,400 Totals $18,400 $18,400 Based on the trial balance, the total amount of assets appearing on the balance sheet would be: a. $18,400 b. $18,800 C. $17,000 d. $15,600