Question: If an adjustment for $ 7 , 5 0 0 in accrued revenues is omitted, how will this affect the financial statements?a . Net income

If an adjustment for $7,500 in accrued revenues is omitted, how will this affect the financial statements?a. Net income will be overstated by $7,500.b. Net income will be understated by $7,500.c. There will be no effect on the financial statements.d. Accounts Receivable will be overstated by $7,500.

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