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A company recorded the $36,000 adjusting entry for the earning of rent received in advance by debiting expenses and crediting assets $36,000. Net income is

A company recorded the $36,000 adjusting entry for the earning of rent received in advance by debiting expenses and crediting assets $36,000. Net income is $72,000 understated B. $36,000 understated C. $36,000 overstated $72,000 overstated correctly stated

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