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What effect will the following closing entry have on the retainsa mings accoune Muitiple Choice Retained eainings wil increase by $2,800 Retained earnings will decrease

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What effect will the following closing entry have on the retainsa mings accoune Muitiple Choice Retained eainings wil increase by $2,800 Retained earnings will decrease by $2,800 Retained earnings will be transferred to the income statement. Retained earnings will remain unchanged

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