16. A company makes an accrued revenue adjusting entry for $900 and an accrued expense adjusting entry

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16. A company makes an accrued revenue adjusting entry for

$900 and an accrued expense adjusting entry for $700.

How much was net income understated prior to these enĀ¬

tries? Explain.

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Financial Accounting

ISBN: 9780470128848

6th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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