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Post-Quiz Q: Acme Company Balance Sheet As of January 5, 2020 (amounts in thousands) Cash 2,400 Accounts Receivable 14,700 Ac

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Correct answer-------------Ending retained earnngs balance = $22,905

Working

Retained earnings Beginning balance $   22,900
Add: Revenues $            25
Less: Expense $         (20)
Ending retained earnings balance $   22,905
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