The retained earnings account has a credit balance of 17000, Ask an Expert

Accounting

The Retained Earnings account has a credit balance of $17,000 before closing entries are made. If total revenues for the period are $55,200, total expenses are $39,800 and dividends are $9,000, what is the ending balance in the Retained Earnings account after all closing entries are made?

A. $8,000

B. $15,400

C. $23,400

D. $17,000

E. $32,400

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Accounting Basics, Accounting

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