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A company received $1520 cash for legal services to be rendered in the future. The full amount increased the liability account Unearned Service Revenue. If

A company received $1520 cash for legal services to be rendered in the future. The full amount increased the liability account Unearned Service Revenue. If the legal services have been rendered at the end of the accounting period and no adjustment is made, this would cause

Question 35 options:

net income to be overstated.

revenues to be understated.

expenses to be overstated.

liabilities to be understated.

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