At the end of July, the first month of the current fiscal year, the factory overhead account had a debit balance. Which of the following describes the nature of this balance and how it would be reported on the interim balance sheet?
A) Overapplied, deferred credit
B) Underapplied, deferred debit
C) Underapplied, deferred credit
D) Overapplied, deferred debit
B
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