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Find wachowski industries would be showing

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Problem 1: On October 31, before wachowski industries prepared their month end adjusting entries, they had $60000 in revenue for October that had not been billed, and were waiting for invoices for expenses incurred totaling $48000. Before any accounts were adjusted, wachowski industries would be showing

a. Understated profit of $60000
b. overstated liabilities of $48000
c. Overstated profit of $12000
d. Understated assets of $60000

Reference no: EM132676061

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