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Patel Company's accountant failed to record an adjusting journal entry for $1000 of the supplies...

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Accounting

Patel Company's accountant failed to record an adjusting journal entry for $1000 of the supplies used.

a. only expenses are understated

b. assets are overstated, retained earnings are overstated

c. assets overstated, liabilities understated

d. only liabilites understated

e. assets understated, retained earnings understated

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