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Trapdoor Corporation is analyzing its account balances for 2022. As of the end of 2022, a debit balance of $4,000 remains in the Manufacturing Overhead
Trapdoor Corporation is analyzing its account balances for 2022. As of the end of 2022, a debit balance of $4,000 remains in the Manufacturing Overhead account. What impact does this have on the financial statements? a. It will increase assets by $4,000 and have no effect on income. b. It will reduce income by $4,000. c. It will increase income by $4,000. d. It will decrease gross profit but have no effect on income. e. It will decrease assets by $4,000 and increase income by an unknown amount because we do not know the sales tax rate
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