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QUESTION
Consider the following account starting balances and journal transactions involving these accounts . Use T-accounts to record the starting balances...
Accounting: Journal 3
Consider the following account starting balances and journal transactions involving these accounts.
Use T-accounts to record the starting balances and organize the offsetting entries for the transactions.
The starting balance of Cash is $8,400
The starting balance of Inventory is $4,200
The starting balance of Retained Earnings is $23,500
Consider the following account starting balances and journal transactions involving these accounts .Use T-accounts to record the starting balances and organize the offsetting entries for the transactions.The starting balance of Cash is $8, 400The starting balance of Inventory is $ 4 , 200The starting balance of Retained Earnings is $ 23 , 500DateAccounts and ExplanationDebit| CreditMar 9\Retained Earnings2Cash2Consumed good or service and paid expense withcashMar 10Cash40Inventory32Retained EarningsSold and delivered product to customerMar 1 1\Cash25Retained Earnings25Sold , delivered , and received payment for service*with no clear associated costWhat is the final amount in Retained Earnings ?