Suppose that Laramie Company's adjusted trial balance ignored the following information. Indicate what effects, if any, these
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Question:
Suppose that Laramie Company's adjusted trial balance ignored the following information. Indicate what effects, if any, these omissions would have on the stated components of Laramie Company's 2018 Income Statement and 12/31/18 Balance Sheet. Assume no income taxes.
$2,000 interest on a loan was not yet paid or recorded.
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