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Assume that a firm reports net income of $87,000 prior to making adjusting entries for the following items: expired rent, $6,700; depreciation expense, $7,900; and supplies used, $3,300. Assume that the required adjusting entries have not been made. What effect do these errors have on the reported net income?
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Assume that a firm reports net income of $87,000 prior to making adjusting entries for the following...
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