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  3. retained earnings $30,000 cash $21,000 ..

Retained Earnings $30,000 Cash $21,000 ...

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Question

Accounting

Retained Earnings

$30,000

Cash

$21,000

Service Revenue

$18,000

Utilities Expense

$4,000

Merchandise Revenue

$5,000

Accounts Receivable

$6,000

Unearned Revenue

$3,000

Accounts Payable

$2,000

Salaries Expense

$10,000

Dividends

$1,000

Given the above chart: 1. Write out the closing entries AND 2. State the NEW Ending Retained Earnings Balance.

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