Question: Question Content Area Services provided to customers on the last day of the month were not billed. What effect would this have on the balance

Question Content Area
Services provided to customers on the last day of the month were not billed. What effect would this have on the balance sheet?
a. Assets would be overstated and liabilities would be understated.
b. Liabilities would be understated and owner's equity would be overstated.
c. Assets and owner's equity would be understated.
d. Assets and owner's equity would be overstated.

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