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A company failed to record the following four adjusting entries during 2018. Which one of the following omissions will understate net income? A. Consulting service
A company failed to record the following four adjusting entries during 2018. Which one of the following omissions will understate net income? A. Consulting service provided during the last week of the year are not recorded. B. Interest on amounts borrowed has not yet been recorded. C. Prepaid insurance is not reduced for the portion of the policy that has expired during the period D. Income taxes owed but not yet paid, are ignored.
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