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A company recorded the $27,000 adjusting entry for the earning of rent received in advance by debiting expenses and crediting assets $27,000. Which of the

image text in transcribed A company recorded the $27,000 adjusting entry for the earning of rent received in advance by debiting expenses and crediting assets $27,000. Which of the following is/are understated $54,000 ? A. assets B. expenses C. net income D. all of these E. none of these

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