Question: Which of the following transactions results in a decrease in retained earnings? Why? Identify transactions that decrease retained earnings (L.O. 5) . Employees were paid

Which of the following transactions results in a decrease in retained earnings? Why?

Identify transactions that decrease retained earnings (L.O. 5)

. Employees were paid $20,000 for services performed during the month.

. $175,000 was paid to acquire land.

. Paid an $18,000 note payable. No interest was involved.

. Paid a $200 account payable.

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