What effect will the following entry have on Retained Earnings? 20,600 Service Revenue Interest Expense Operating Expenses Retained Earnings 1,200 16,400 3,000 O Retained Earnings will increase by $3,000. O Retained Earnings will be transferred to the income statement O Retained Earnings will decrease by $3,000. O Retained Earnings will increase by $6,000. Jones Enterprises was started when it acquired $4,800 cash from creditors and 57,200 from owners. The company immediately purchased land that cost $10,000. Required: a. Record the events under an accounting equation. (Enter any decreases to account balances with a minus sign.) JONES ENTERPRISES Accounting Equation Land - Creditors Cash + Equity b. After all events have been recorded, Jones's obligations to creditors represent what percent of total assets? Percentage of total assets c. After all events have been recorded, Jones's stockholders' equity represents what percent of total assets? Percentage of total assets d. Assume the debt is due. Given that Jones has 57,200 in stockholders' equity, can the company repay the creditors at this point