Business, 01.12.2020 14:00 Pen350

A company recorded the $42,000 adjusting entry for depreciation expense by debiting revenues and crediting liabilities $42,000. Net income is A. $42,000 understated
B. $42,000 overstated
C. $84,000 overstated
D. $84,000 understated
E. correctly stated

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