The accountant for Jefferson Cleaners forgot to make an adjusting entry to recor

Question

The accountant for Jefferson Cleaners forgot to make an adjusting entry to record revenue earned but not yet billed
to customers. The effect of this error will result in:
Question 2 options: A) an overstatement of assets and net income and an understatement of equity B) an understatement of net income and equity and an overstatement of assets C) an overstatement of net income and an understatement of assets D) an understatement of assets, net income, and equity E) an overstatement of assets, net income, and equity The accountant for Jefferson Cleaners forgot to make an adjusting entry to record revenue earned but not yet billed
to customers. The effect of this error will result in:
The accountant for Jefferson Cleaners forgot to make an adjusting entry to record revenue earned but not yet billed
to customers. The effect of this error will result in:
A) an overstatement of assets and net income and an understatement of equity B) an understatement of net income and equity and an overstatement of assets C) an overstatement of net income and an understatement of assets D) an understatement of assets, net income, and equity E) an overstatement of assets, net income, and equity A) an overstatement of assets and net income and an understatement of equity B) an understatement of net income and equity and an overstatement of assets C) an overstatement of net income and an understatement of assets D) an understatement of assets, net income, and equity E) an overstatement of assets, net income, and equity A) an overstatement of assets and net income and an understatement of equity B) an understatement of net income and equity and an overstatement of assets C) an overstatement of net income and an understatement of assets D) an understatement of assets, net income, and equity E) an overstatement of assets, net income, and equity

Explanation / Answer

c) an overstatement of net income and an understatement of assets

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