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A company recorded the $45,000 adjusting entry for accrued interest expense on monies it borrowed by debiting liabilities and crediting revenues for $45,000. Which of

A company recorded the $45,000 adjusting entry for accrued interest expense on monies it borrowed by debiting liabilities and crediting revenues for $45,000. Which of the following is understated by $90,000?

Assets

Expenses

Liabilities

Net Income

Revenues

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