The beginning balance in Retained Earnings for the month of June in ABC Company's general ledger was a $30,000 credit balance. ABC's Net Income for June was $10,000. ABC declared and paid a $5,000 dividend in June. The June beginning balance in ABC's Cash Account was $25,000 and the June ending balance in the Cash Account was $20,000. The Retained Earnings amount shown on ABC's June 30th Balance Sheet should be: $30,000 $35,000 O $40,000 O $20,000 $45,000 A company has the following three events in December 2020 and they operate on a monthly accounting period: December 1, 2020 - Pay last month's rent (November 2020), $500 - December 15, 2020 - Pay rent for the current month (December 2020). $500 December 31, 2020 - Pay rent for the following year (2021), $6,000 How much would be recorded as Rent Expense for the month of December 2020 using the accrual- basis accounting system? O $6,500 O $7,000 O $500 O $1,000 None of the answers are correct