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< Services were performed but not billed. What effect will this have on the income statement if an adjusting entry is not made? a.

< Services were performed but not billed. What effect will this have on the income statement if an adjusting entry is not made? a. Revenues will be overstated. Ob. Expenses will be overstated. Oc. Net income will be understated. Od. Liabilities will be understated.

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