18. On March 1, 2009, the premium on a two-year insurance policy on equipment was paid amounting to $1,800. How would the financial position as of December 31, 2009 (the end of the accounting period) be affected if the accountant did not record the adjusting entry? A) Assets understated by $750; Liabilities unaffected; Owners' equity understated by $750. B) Assets overstated by $1,500; Liabilities unaffected; Owners' equity overstated by $1,500. C) Assets understated by $1,500; Liabilities unaffected; Owners' equity understated by $750. D) Assets overstated by $750; Liabilities unaffected; Owners' equity overstated by $750. E) No accounts will be affected