On July 1, 2013, Village Bookstore, Inc. appropriated retained earnings in the amount of $18,000 for a future remodeling project in the basement of the bookstore. On June 30, 2013, the balance of Retained Earnings was $41,400 and the Cash balance was $21,600. Which of the following answers shows the effect of the July 1 transaction on the financial statements? 
A) Option A
B) Option B
C) Option C
D) Option D
Correct Answer:
Verified
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