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Which one of the following statements is NOT true? a. We expect to convert Unearned Revenue into Revenue b. We expect to convert Prepaid Expenses

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Which one of the following statements is NOT true? a. We expect to convert Unearned Revenue into Revenue b. We expect to convert Prepaid Expenses into Expenses c. We expect to convert Accumulated Depreciation into Depreciation Expense d. We expect to convert Accounts Receivable into Cash Every adjusting entry impacts: a. Two balance sheet accounts b. Two income statement accounts c. One income statement account and one balance sheet account d. One income statement account and one owner's equity account

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