On July 1, 2014, Gustafson Company appropriated retained earnings in the amount of $18,000 for a future remodeling project. On June 30, 2014, 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 appropriation of retained earnings on the financial statements? 
A) Choice A
B) Choice B
C) Choice C
D) Choice D
Correct Answer:
Verified
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