Warren Company began the accounting period with a $56.000 debit balance in its accounts receivable account. During the accounting period, the company recorded revenue on account amounting to $124,000. The accounts receivable account at the end of the accounting period contained a $28.000 debit balance. Based on this information, what is the amount of cash collected from customers during the period? Multiple Choice $40,000 O $102,000 O $152.000 $140.000 The trial balance of Barger Company at the end of the accounting period, immediately prior to recording closing entries, showed the following: Cash Land Notes payable Common stock Retained earnings Service revenue Expenses Dividends Total Debit Credit 19,000 36,000 22,400 12,000 12,800 49,000 39,900 1,300 $96,200 $96,200 What will the balance of the retained earnings account be after the closing entries are recorded? Multiple Choice $9,100 $7,800 $20,600 $21.900 What effect will the following closing entry have on the retained earnings account? 21,200 Service Revenue Interest Expense Operating Expenses Retained Earnings 1,350 16,700 3,150 Multiple Choice Retained earnings will remain unchanged. Retained earnings will decrease by $3,150. Retained earnings will increase by $3,150, Retained earnings will be transferred to the income statement