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What impact does have on the company books

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Reference no: EM132823287

Problem 1: The new bookkeeper forgot to record the payment of an accounts payable to a supplier. What impact does this have on the company's books?

Option 1: No effect
Option 2: Cash is understated/the Income Statement is understated
Option 3: Cash is overstated/the Income Statement is overstated
Option 4: Cash is overstated/liabilities are understated
Option 5: Cash is overstated/liabilities are overstated

Reference no: EM132823287

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