A one year insurance policy costing $1,200 was incorrectly charged to interest

A one year insurance policy costing $1,200 was incorrectly charged to interest

A one year insurance policy costing $1,200 was incorrectly charged to interest

Question

A one year insurance policy costing $1,200 was incorrectly charged to interest expense.Net income for that year would be:a. Understatedb. Overstatedc. The right amount

A one year insurance policy costing $1,200 was incorrectly charged to interest