- Conceptual Connection: What would be the total effect on the income statement and balance sheet if these entries were not recorded? Input all amounts as positive values. Expenses would be understated and assets would be overstated, b. Revenues would be understated and liabilities would be overstated. c. Revenues would be understated and liabilities would be overstated. d. Expenses would be understated and assets would be nuarctatar - Feedtock Thed M, Wan not current, the finandial statements do not reflect accurately the position or activity of the business. security services were used. Make the appropriate journal entry for the deferred (unearned) revenue or deferred (prepaid) expense. d. Dec. 31 Fesclback Theok My Work security services were used. Make the appropriate journal entry for the deferred (unearned) revenue or deferred (prepaid) expense, 3. Conceptual Connection: What would be the total effect on the income statement and balance sheet if these entries were not recorded? Input all amounts as positive values. a. Expenses would be understated and assets would be overstatec b. Revenues would be understated and liabilities would be overstated. c. Revenues would be understated and liabilities would be overstated. d. Expenses would be understated and assets would be overstated. Greensboro Properties Inc. owns a building in which it leases office space to small businesses and professionals, During the year, Greensboro Properties engaged in the following transactions: c. On July 31 , Greensboro Properties rece was credited to uneamed rent revenue, Required: - Conceptual Connection: What would be the total effect on the income statement and balance sheet if these entries were not recorded? Input all amounts as positive values. Expenses would be understated and assets would be overstated, b. Revenues would be understated and liabilities would be overstated. c. Revenues would be understated and liabilities would be overstated. d. Expenses would be understated and assets would be nuarctatar - Feedtock Thed M, Wan not current, the finandial statements do not reflect accurately the position or activity of the business. security services were used. Make the appropriate journal entry for the deferred (unearned) revenue or deferred (prepaid) expense. d. Dec. 31 Fesclback Theok My Work security services were used. Make the appropriate journal entry for the deferred (unearned) revenue or deferred (prepaid) expense, 3. Conceptual Connection: What would be the total effect on the income statement and balance sheet if these entries were not recorded? Input all amounts as positive values. a. Expenses would be understated and assets would be overstatec b. Revenues would be understated and liabilities would be overstated. c. Revenues would be understated and liabilities would be overstated. d. Expenses would be understated and assets would be overstated. Greensboro Properties Inc. owns a building in which it leases office space to small businesses and professionals, During the year, Greensboro Properties engaged in the following transactions: c. On July 31 , Greensboro Properties rece was credited to uneamed rent revenue, Required