What will be the effect-understated would affect 20X1 operations via the routine accounting entries of 20X1. (U), overstated (O), or no effect (N)-on the income of the present and future periods if the following errors were made? In all cases, assume that amounts camied Period 20X0 20X1 Revenue has been collected in advance, but earned amounts have not been recognized at the end of 20X0. Instead, all revenue was recognized as eamed in 20x1 2. Revenue for services rendered has been eamed, but the unbilled amounts have not been recognized at the end of 20XO 3. Accrued wages payable have not been recognized at the end of 20X00 4. Propaid rent has been paid (in late 200X0), but no adjustment for rent used in 20X0 was made. The payments have been debited to prepaid rent. They were transferred to expense in mid-20x