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Parker Company issued ten-year, 9%, bonds payable in 2020 at a premium. During 2020, the company's accountant failed to amortize any of the bond

Parker Company issued ten-year, 9%, bonds payable in 2020 at a premium. During 2020, the company's accountant failed to amortize any of the bond premium. The omission of the premium amortization will O cause net income for 2022 to be overstated. cause retained earnings at the end of 2022 to be overstated. O not affect net income for 2022. cause net income for 2022 to be understated.

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