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A company recorded the $39,000 adjusting entry for accrued interest revenue on monies it loaned by debiting revenues and crediting liabilities for $39,000. Revenues are
A company recorded the $39,000 adjusting entry for accrued interest revenue on monies it loaned by debiting revenues and crediting liabilities for $39,000. Revenues are
$39,000 understated
$39,000 overstated
$78,000 overstated
$78,000 understated
correctly stated
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