aPPS17.A A) hook value 0) residual value C) accrued revenue D) acerued expense 18. On July I, Acme, Ino, paid rent of $15,000 for a small equipment storage area from July 1 until December 31. Provide the adjusting journal entry on July 31 Credit Debit 50oo 19. The accountant for Jones Auto Repair, Inc. failed to make an adjusting entry to record $5,000 of unpaid salaries for the last two weeks of the year. Which of the following is an effect of this omission? A) The net income will be overstated. The total assets will be understated. C) The net income will be understated. D) The total assets will be overstated