accounting question

alle C... 2000 Seved Help Save The following question is an Error Analysis question related to the adjustment process. Please note: Do not overthink the scenario. Instead, deal only with the facts provided. The financial statement effects being requested in any given scenario are for the current period only. "Staff at Mont Blanco received cash this period for services that will be delivered to customers next period. The accountant recorded the cash received in the current period as revenue." What is the effect of this error on Revenues, Expenses, and Net Income, respectively? Multiple Choice Revenue is Overstated, No Effect on Expenses, and Net Income is Understated Revenue is Understated, No Effect on Expenses, and Net Income is Understated Revenue is Understated, No Effect on Expenses, and Net Income is Overstated Revenue is Overstated, No Effect on Expenses, and Net Income is Overstated