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If total revenues for the year are $57,200, total expenses are $36,800, and dividends are $8,000, what is the ending balance in the retained earnings account after all closing entries have been made? 8. If working capital is $72,000 and the current ratio is 2.5:1, what are the effects of receiving cash by borrowing for 60 days on the last day of the year?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M992366

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