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Over / Under: Alpha paid cash for one year of rent but erroneously recorded it as cash paid for the purchase of equipment. Alpha erroneously
OverUnder: Alpha paid cash for one year of rent but erroneously recorded it as cash paid for the purchase of equipment. Alpha erroneously recorded an AJE for depreciation, but didn't record the correct AJE for rent. Failure to record the correct journal entry and AJE has what effect on assets, liabilities, and net income? Assets: Liabilities: Net Income:
OverUnder: Alpha paid cash for one year of rent but erroneously recorded it as cash paid for the purchase of equipment. Alpha erroneously recorded an AJE for depreciation, but didn't record the correct AJE for rent. Failure to record the correct journal entry and AJE has what effect on assets, liabilities, and net income?
Assets:
Liabilities:
Net Income:
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