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Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Identify the effect that
Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Identify the effect that omitting each of the following items would have on the balance sheet. Clear All Liabilities understated and stockholders' equity overstated No adjustment was made for supplies used up during the month. Assets understated and stockholders' equity overstated Wages are paid every Friday for the 5-day work week. The month ended on Monday and no adjustment was recorded. Assets and stockholders' equity understated Interest earned on a note receivable was not recorded. Assets overstated and stockholders' equity understated Services provided to customers on the last day of the month were not billed. Liabilities overstated and stockholders' equity understated Assets and stockholders' equity overstated
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