A & D Window Cleaning performed $450 of services but has not yet billed customers for the

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A & D Window Cleaning performed $450 of services but has not yet billed customers for the month. If A & D fails to record the adjusting entry, what is the impact on the financial statements?

a. balance sheet: assets understated; equity overstated income statement: expense understated

b. balance sheet: liabilities overstated; equity understated income statement: revenues understated

c. balance sheet: assets overstated; equity understated income statement: expenses understated

d. balance sheet: assets understated; equity understated income statement: revenues understated

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Horngrens Financial And Managerial Accounting The Managerial Chapters

ISBN: 9781292412337

7th Global Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura

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