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The adjusting entry to record depreciation expense at the end of the current year was not made. Indicate the effect of the omission (overstated, understated,
The adjusting entry to record depreciation expense at the end of the current year was not made. Indicate the effect of the omission (overstated, understated, or not affected) on each of the following Revenues for the current year: Overstated Understated Not affected Expenses for the current year: Overstated Understated Not affected Net income for the current year: Overstated Understated Not affected Total assets at the end of the current year: Overstated Understated Not affected
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