Question: Answer the question based on the following adjusted trial balance Debit Credit Cash $9,372 Accounts receivable 12,588 Inventory 18,744 Prepaid rent 516 Equipment 1,800 Accumulated

Answer the question based on the following adjusted trial balance

Debit Credit

Cash $9,372

Accounts receivable 12,588

Inventory 18,744

Prepaid rent 516

Equipment 1,800

Accumulated depreciation-equipment 312

Accounts payable 492

Unearned service revenue 732

Common stock 1,236

Retained earnings 39,660

Service revenue 1,608

Interest revenue 336

Salaries and wages expense 960

Travel expense 396

Total $44,376 $44,376

After closing entries have been posted, the balance in retained earnings will be:

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