On October 1 of the current year, a company received $9,600 for services to be performed...
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On October 1 of the current year, a company received $9,600 for services to be performed evenly over the next six months. If no adjusting entry was made on December 31 of the current year: O A. net income would be understated by $4,800. OB. net income would be overstated by $4,800. OC. net income would be overstated by $2,400. O D. net income would be understated by $9,600. On October 1 of the current year, a company received $9,600 for services to be performed evenly over the next six months. If no adjusting entry was made on December 31 of the current year: O A. net income would be understated by $4,800. OB. net income would be overstated by $4,800. OC. net income would be overstated by $2,400. O D. net income would be understated by $9,600.
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When the company received 9600 the following entry would have been made in the books De... View the full answer
Related Book For
Financial Accounting
ISBN: 9781264229734
11th Edition
Authors: Robert Libby, Patricia Libby, Frank Hodge
Posted Date:
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