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On January 1, 2020, Samford Company collected $6,000 in advance from a customer for services to be provided evenly over the next six months. If Samford prepares adjustments on January 31, the necessary adjustment would: O Have no effect on the balance sheet. Decrease Unearned Revenue and increase Retained Earnings $1,000. Increase Cash and Retained Earnings $1,000. O Increase Cash and Unearned Revenue $6.000. Logan Company pays their employees $1,000 a day for a five-day workweek, Monday thru Friday. The end of the accounting period, January 31, falls on a Wednesday. The employees have worked three days since the last payday. If Logan prepares adjustments on January 31, the necessary adjustment would: Decrease liabilities and increase stockholders' equity. Have no effect on the accounting equation. Increase liabilities and decrease stockholders' equity. Decrease assets and stockholders' equity