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A company records cash received from clients in advance for legal services in Unearned Revenue. If the company fails to make the end - of

A company records cash received from clients in advance for legal services in Unearned Revenue. If the company fails to make the end-of-period adjusting entry to move the portion of revenue that has been earned to a revenue account, one effect will be:
Multiple Choice
An understatement of assets.
An understatement of equity.
An overstatement of assets.
An overstatement of equity.

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