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23. A company recorded the $30,000 adjusting entry for the expiration of prepaid rent by debiting liabilities and crediting revenues $30,000. Total owners equity is

23. A company recorded the $30,000 adjusting entry for the expiration of prepaid rent by debiting liabilities and crediting revenues $30,000. Total owners equity is A. $30,000 understated B. $30,000 overstated

C. $60,000 overstated D. $60,000 understated E. correctly stated

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