4) Accrual-basis accounting means that transactions that change a companys financial statements are recorded in the periods in which the events occur: a. only if cash is exchanged b. even if cash was not exchanged c. only if cash is not exchanged 5) Interest of $600 has accrued on a note payable. What is the necessary adjusting entry to record this interest? Debit Credit If this adjustment is not made, the following are overstated, understated, or not impacted: Assets: Revenue: Liabilities: Expense: Stockholders' Equity: 6) XYZ Co, has $500 of supplies on hand, but their Supplies account shows a balance of $2,000. What is the necessary adjusting entry? Debit Credit If this adjustment is not made, the following are overstated, understated, or not impacted: Assets: Revenue: Liabilities: Expense: Stockholders' Equity: 7) The depreciation on XYZ Co.'s office equipment is $300 per month. What is the necessary adjusting entry to record monthly depreciation? Debit Credit If this adjustment is not made, the following are overstated, understated, or not impacted: Assets: Revenue Liabilities: Expense: Stockholders' Equity