Question: Exercise #1: 5pts Johnson Corp. is displaying the following data on December 31, 2020. Retained Earning Balance : $ 52,000 In 2021. It's Income statement

Exercise #1: 5pts Johnson Corp. is displaying the following data on December 31, 2020. Retained Earning Balance : $ 52,000 In 2021. It's Income statement shows a net loss for 18,000$-. Journalize the transaction and determine the ending balance of Retained earnings

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