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25. A company recorded the $42,000 adjusting entry for depreciation expense by debiting revenues and crediting liabilities $42,000. Net income is A. $42,000 understated B.

25. A company recorded the $42,000 adjusting entry for depreciation expense by debiting revenues and crediting liabilities $42,000. Net income is A. $42,000 understated B. $42,000 overstated C. $84,000 overstated D. $84,000 understated E. correctly stated

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