On September 1, Chadd, Inc. reported Retained Earnings of $408,000. During the month of September,...
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On September 1, Chadd, Inc. reported Retained Earnings of $408,000. During the month of September, Chadd generated revenues of $60,000, incurred expenses of $36,000, purchased equipment for $15,000 and paid dividends of $18,000. What is the balance in Retained Earnings on September 30? A) $408,000 debit B) $24,000 credit C) $411,000 credit D) $414,000 credit
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