A bookkeeper erroneously recorded the accrual of wages payable using this journal entry: Sales Discount Accumulated Depreciation The effect of this error will include: Select one: O a. Total Expenses No Error Total Assets Understated Total Liabilities No Error b. Total Expenses Overstated Total Assets No Error Total Liabilities Understated O c. Total Expenses No Error Total Assets No Error Total Liabilities Understated O d. Total Expenses Understated Total Assets No Error Total Liabilities Understated Total Expenses Understated Total Assets Understated Total Liabilities Understated The Clark Company fails to record these two adjusting journal entries: Depreciation on Equipment: $40 Cash Dividends declared: $10 Working capital will be: Select one: O a. Correct b. $10 overstated O c. $10 understated d. $50 overstated e. $50 understated