Solve the balance in retained earnings on december

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Question 1: During 2020, Swille Corporation had Sales of $225,000 and Operating Expenses of $123,000 and declared cash dividends of $14,000. Retained Earnings on January 1, 2020 was $110,000. Prepare closing entries on December 31, 2020. Calculate the balance in Retained Earnings on December 31, 2020.

Reference no: EM132588165

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