QUESTION 7 How will the following adjusting journal entry affect the accounting equation? 11,500 11,500 Unearned Subscriptions Subscriptions Earned a increase liabilities, increase revenues b. decrease liabilities, increase revenues c. increase assets, increase revenues d. decrease liabilities, decrease revenues QUESTION 10 What effect will this adjustment have on the accounting records? Unearned Fees 6,375 6,375 Fees Earned a. increase net income b. increase revenues reported for the period c. decrease liabilities d. all of these are true