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Pomona Company made the following errors: Accrued wages of $7 by debiting Wages Payable and crediting Cash Recorded the $13 payment of an Account Payable by debiting Inventory and crediting Unrealized Gain on Trading Securities Recorded a $23 credit sale by debiting Cash and crediting Depreciation Expense The overall effect of these errors is that Net Income is: Select one: a. Overstated $6 b. Understated $17 c. Overstated $20 d. Overstated $43 e. Understated $3
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