Question: Saved What effect will the following closing entry have on the retained earnings account? 18,800 750 Service Revenue Interest Expense Operating Expenses Retained Earning 15,500

retained earnings account? 18,800 750 Service Revenue Interest Expense Operating Expenses Retained

Saved What effect will the following closing entry have on the retained earnings account? 18,800 750 Service Revenue Interest Expense Operating Expenses Retained Earning 15,500 2,550 Multiple Choice Retained earnings will remain unchanged. Retained earnings will decrease by $2,550, Retained earnings will decrease by $2,550 Retained earnings will increase by $2,550 Retained earnings will be transferred to the income Set

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