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A company records the fees for legal services paid in advance by its clients in an account called Unearned Legal Fees. If the company fails

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A company records the fees for legal services paid in advance by its clients in an account called Unearned Legal Fees. If the company fails to make the end-of-period adjusting entry to record the portion of these fees that has been earned, one effect will be Multiple Choice o An overstatement of equity An understatement of equity s An understatement of assets An understatement of liabilities

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