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Multiple Choice Question If an adjusting entry for unearned revenue is not recorded, what is the effect on the financial statements? Multiple choice question. the

Multiple Choice Question If an adjusting entry for unearned revenue is not recorded, what is the effect on the financial statements? Multiple choice question. the revenues on the income statement will be overstated. the revenues on the income statement will be understated. the liabilities on the balance sheet will be understated. Neither the income statement nor the balance sheet will be affected

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