Assets Liabilities no effect no effect Equity no effect Question 22 3.9 pts Reiss Real Estate Company's accounting period ends on December 31, 2020. Reiss pays its agents a 10% commission on sales revenue. The company believes it has appropriately applied the matching (expense recognition) principle in 2020. Which situation violates the matching (expense recognition) principle? Oa. Sales revenue recognized in 2020 was $20,000. Sales commissions charged to expense in 2020 was $2.000 (10% of sales revenue), even though $500 of the commissions had not yet been paid as of 12/31/2020. Ob. A one-year insurance policy was purchased in August 2020 for $1,200. The $1.200 was recognized as insurance expense on the income statement for the period ending 12/31/2020. Oc. Electricity and water expenses are recognized as expenses in 2020 even though the last bill relating to utilities used in 2020 will not be received until January 2021. Od. Depreciation expense is recognized in 2020 on a building purchased two years ago (i.e... in 2018).