Question: Jackson Corporation s Retained Earnings account balance was 75 000 on January
Jackson Corporation’s Retained Earnings account balance was $75,000 on January 1. During January, the company recorded revenue of $100,000, expenses of $60,000, and dividends of $5,000. The company also purchased land during the period for $20,000 cash. Determine the company’s Retained Earnings account balance on January 31.
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