A company recorded the $48,000 adjusting entry for accrued interest expense on monies it borrowed...
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Accounting
A company recorded the $48,000 adjusting entry for accrued interest expense on monies it borrowed by debiting liabilities and crediting revenue for $48,000. Which of the following is overstated by $96,000?
A. assets
B. expenses
C. net income
D. all of these
E. none of these
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