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Seldon Industries amortizes its copyright of $65,000 over 40 years. Ms. Alice, the bookkeeper, mistakenly recorded the amortization twice in the current year. The effect

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Seldon Industries amortizes its copyright of $65,000 over 40 years. Ms. Alice, the bookkeeper, mistakenly recorded the amortization twice in the current year. The effect of this mistake causes: Multiple Choice assets to be understated. O cash to be overstated. retained earnings to be overstated. O liabilities to be understated

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