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A company recorded the $48,000 adjusting entry for accrued interest expense on monies it borrowed by debiting liabilities and crediting revenue for $48,000. Which of

A company recorded the $48,000 adjusting entry for accrued interest expense on monies it borrowed by debiting liabilities and crediting revenue for $48,000. Which of the following is overstated by $96,000?

A. assets

B. expenses

C. net income

D. all of these

E. none of these

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