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If the following adjusting entry is omitted, what effect will it have on net income? Depreciation Expense 4 , 3 0 0 Accumulated Depreciation 4
If the following adjusting entry is omitted, what effect will it have on net income?
Depreciation Expense
Accumulated Depreciation
a Net income will be overstated by $
b Net income will be overstated by $
c Net income will be understated by $
d It will have no effect on net income.
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