Before adjustment, the prepaid insurance account has a balance of $6,000 representing a 12-month policy that was purchased May 1 of the current year, at the end of the year, eight months' worth has now been used up. Which of the following is the impact of this transaction on the expanded accounting equation? Select one: O Decrease PREPAID INSURANCE and increase EXPENSES O Decrease CASH and increase EXPENSES O Decrease CASH and decrease PREPAID EXPENSES Increase PREPAID INSURANCE and increase EXPENSES Decrease CASH and increase PREPAID EXPENSES Before adjustment, the unearned revenue account had a balance of $14,000; as of the end of the period, $5,000 of the unearned revenue has now been earned. Which of the following is the impact of this transaction on the expanded accounting equation? Select one: Increase ACCOUNTS RECEIVABLE and increase REVENUE O Decrease UNEARNED REVENUE and decrease ACCOUNTS RECEIVABLE Increase CASH and increase REVENUE O Increase CASH and decrease ACCOUNTS RECEIVABLE O Decrease UNEARNED REVENUE and increase REVENUE