Explain the account called retained earnings what does it, Financial Management

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Explain the account called retained earnings what does it

1. When a sale of merchandise is made for credit (on account), what three accounts are increased? What account is decreased?

2. Explain the account called "Retained Earnings". What does it represent?

What causes it to increase?

What causes it to decrease?

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Financial Management: Explain the account called retained earnings what does it

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