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Frosty Incorporated has the following balances on December 31 prior to closing entries:
Revenues $ 43800
Retained Earnings, January 1 8400
Cash 8900
Expenses 25000
Accounts Payable 2500
Dividends 1200
Supplies 19,600
Based upon the balances above, how will Retained Earnings change as a result of the closing entries?
Sagot :
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