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If a company incorrectly omits recording an expense that was paid in cash, clearly explain how this error impacts the companys Income Statement and (BS)

If a company incorrectly omits recording an expense that was paid in cash, clearly explain how this error impacts the companys Income Statement and (BS) Balance Sheet (if at all). Could you be thorough and clear. Use words like overstate, understate, and no effect. Would the BS still balance? Why or why not?

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