Question: If the following adjusting entry is omitted, what effect will it have on net income? Depreciation Expense 4 , 3 0 0 Accumulated Depreciation 4

If the following adjusting entry is omitted, what effect will it have on net income?
Depreciation Expense4,300Accumulated Depreciation4,300
a. Net income will be understated by $4,300.
b. Net income will be overstated by $4,300.
c. Net income will be overstated by $8,600.
d. It will have no effect on net income.

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