Question: What would the effect on Aggie s balance sheet be if adjusting entry ( c ) is not recorded? Liabilities overstated and stockholders' equity understated

What would the effect on Aggies balance sheet be if adjusting entry (c) is not recorded?
Liabilities overstated and stockholders' equity understated
Assets overstated and liabilities understated
Assets overstated and stockholders' equity understated
Assets understated and stockholders' equity overstated
There will be no effect on Aggie's balance sheet.

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