Record the following transactions for the company ABC in the general journal and show the general ledger account (T) for the retained earnings only. The beginning balance of the retained earnings was $2000,000 The following transactions: 1) The Profit for the year was $1,500,000 closed in the retained earnings (record the closing entry) 2) Company transferred an amount of $100,000 from the retained earnings to the reserve account for future use. 3) Three years ago the company allocated an amount of $20,000 as reserve for the exchange fluctuation, no longer required 4) Cash dividends paid from the retained earnings account $200,000 5) In the meeting board of directors recommended dividends to be paid within 6 months of $50,000