Question: On January 1 , 2 0 2 4 , Shelley Inc. had a balance of $ 6 2 5 , 0 0 0 in its

On January 1,2024, Shelley Inc. had a balance of $625,000 in its Retained Earnings account. During the year, it declared $175,000 of cash dividends and paid $100,000. Its profit after tax in 2024 was $210,000. How much would the company record to close dividends to retained earnings?
 

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