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The following is Company X's December 31, 2020 adjusted trial balance. Cash 25,200 Accounts Receivable 22,200 Inventory 6,600 Prepaid Rent 7,200 Equipment 86,000 Goodwill 17,000
The following is Company X's December 31, 2020 adjusted trial balance. Cash 25,200 Accounts Receivable 22,200 Inventory 6,600 Prepaid Rent 7,200 Equipment 86,000 Goodwill 17,000 Accounts Payable 20,000 Unearned Service Revenue 15,000 Wages Payable 30,000 Common Stock 29,000 Retained Earnings as of 1/1/2020 (unadjusted) 54,000 Revenue 38,100 Rent Expense 18,000 Utilities Expense 900 Dividends 3,000 After closing entries have been made, what is the balance in Retained Earnings at December 31, 20202
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