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On August 1, 2018, Avonate, Inc., sold equipment and accepted a six-month % 550.000 note receivable Avonette's year-and is December 31. If Avonete fails

On August 1, 2018, Avonate, Inc., sold equipment and accepted a six-month % 550.000 note receivable Avonette's year-and is December 31. If Avonete fails to make an adjusting entry for the accrued interest on December 31 OA net income will be understated and assets will be understated B. net income will be understated and Sabilities will be overstated OC net income will be overstated and assets will be overstated OD net income will be overstated and labilities will be understated

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