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A company prepaid cash of $500 for supplies. The accountant mistakenly debited cash for $500 and supplies expense for $500. How does this error impact

A company prepaid cash of $500 for supplies. The accountant mistakenly debited cash for $500 and supplies expense for $500. How does this error impact revenues, expenses, assets, liabilities, stockholders equity in terms of overstatement, understatement and no-effects.

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