Company A's 12/31/X1 unadjusted trial balance shows gross accounts receivable of $300,000 and a credit in the allowance for doubtful accounts account of $20,000. Management estimates that 10% of its receivables will go bad in the future. Record the proper 12/31/X1 adjusting entry. Account Name Debit Credit Assume management were to forget to record the journal entry in #7 above and then answer the following questions: a) How will Assets be misstated? OVERstated or UNDERstated or Neither b) How will Liabilities be misstated? OVERstated or UNDERstated or Neither c) How will Expenses be misstated? OVERstated or UNDERstated or Neither d) How will Net Income be misstated? OVERstated or UNDERstated or Neither e) How will Retained Earnings be misstated? OVERstated or UNDERstated or Neither f) How will Equity be misstated? OVERstated or UNDERstated or Neither