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For a prepaid expense, the adjusting entry would 1) Result in a debit to an expense account and a credit to an asset account 2)

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For a prepaid expense, the adjusting entry would 1) Result in a debit to an expense account and a credit to an asset account 2) Cause a prepaid expense to be overstated and liabilities to be understated 3) Result in a credit to an expense account and a debit to an asset account 4) Result in a debit to a liability account and a credit to an asset account 5) Decrease cash

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