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26. The accountant for We Fly Cheap Airlines forgot to make an adjusting entry at...

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26. The accountant for We Fly Cheap Airlines forgot to make an adjusting entry at the end of the year to record the portion of unearned revenues that were earned before year-end. What effect did this omission have on the company's financial statements? A. Overstated assets and stockholders' equity. B. Understated assets and stockholders' equity. C. Understated liabilities and overstated stockholders' equity. D. Overstated liabilities and understated stockholders' equity

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