Question: 2 Points 25.1f an adjusting entry to record interest which is owed to a bank on a Note Payable, is not recorded at month-end, which

2 Points 25.1f an adjusting entry to record interest which is owed to a bank on a Note Payable, is not recorded at month-end, which of the following effects on the financial statements for the month will NOT occur? A. Total expenses will be understated on the income statement. B. Net income will be overstated. C. Liabilities on the balance sheet will be understated, D D. Cash will be overstated. E E. Retained Earnings will be overstated

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