On December 31, 20X1, Deal, Inc. failed to accrue the December 20X1 sales salaries that were payable on January 6, 20X2. What is the effect of the failure to accrue sales salaries on working capital and cash flows from operating activities in Deal's 20X1 financial statements?
a. Working capital Cash flows from operating activities
b. Overstated No effect
c. Overstated Overstated
d. No effect Overstated
e. No effect No effect
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