Allen Company received $12,000 cash from Gerry Corporation for cleaning services that Allen agrees to perform over a one-year period beginning on June 1, Year 1. How would the adjustment on December 31. Year 1 to recognize the portion of the revenue that Allen earned during Year 1 affect Allen Company's financial statements? Balance Sheet Income Statement Statement of Cash Flows Assets = Rev. Liab. + Equity (7,000) 7,000 (7,000) 7,000 12,000 Exp. = Net Inc. 7,000 A. B. 7,000 12,000 12,000 12,000 12,000 D. (6,000) 6,800 6,000 6,000 Multiple Choice Option B Option Option A Option D