How would the following errors affect the account balances and the basic accounting equation, Assets = Liabilities + Owners' Equity?
How do the misstatements affect income?

	Assets	Liabilities	Owners' Equity	Income
a. The purchase of a truck is recorded as an expense instead of an asset.	- Select your answer - Correct Overstated UnderstatedItem 1	- Select your answer - Correct Overstated UnderstatedItem 2	- Select your answer - Correct Overstated UnderstatedItem 3	- Select your answer - Correct Overstated UnderstatedItem 4
b. A cash payment on accounts receivable is received but not recorded.	- Select your answer - Correct Overstated UnderstatedItem 5	- Select your answer - Correct Overstated UnderstatedItem 6	- Select your answer - Correct Overstated UnderstatedItem 7	- Select your answer - Correct Overstated UnderstatedItem 8
c. Fictitious sales on account are recorded.	- Select your answer - Correct Overstated UnderstatedItem 9	- Select your answer - Correct Overstated UnderstatedItem 10	- Select your answer - Correct Overstated UnderstatedItem 11	- Select your answer - Correct Overstated UnderstatedItem 12
d. A clerk misreads a handwritten invoice for repairs and records it as $1,500 instead of $1,800.	- Select your answer - Correct Overstated UnderstatedItem 13	- Select your answer - Correct Overstated UnderstatedItem 14	- Select your answer - Correct Overstated UnderstatedItem 15	- Select your answer - Correct Overstated UnderstatedItem 16
e. Payment is received on December 31 for the next three months' rent and is recorded as revenue.