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Over/Under: Alpha paid $2,000 cash in advance for rent, and recorded it as a debit to Rent Expense and a credit to Cash. Half of
Over/Under: Alpha paid $2,000 cash in advance for rent, and recorded it as a debit to Rent Expense and a credit to Cash. Half of the rent won't be used by the end of the year, but Alpha failed to record an AJE. Failure to record an AJE has what effect on assets, liabilities, and net income? Assets: Understated Liabilities: No Effect Net Income: Understated
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