Crane Company accumulates the following adjustment data at December $31.$

Indicate $(1)$ the type of adjustment $($prepaid expense, accrued revenue, and so on$)$

Crane Company accumulates the following adjustment data at December $31.$

Indicate $(1)$ the type of adjustment $($prepaid expense, accrued revenue, and so on$)$ and $(2)$ the status of the accounts before adjustment

$($for example, "assets understated and revenues understated"$).($Enter your answers in alphabetical order.$)$and $(2)$ the status of the accounts before adjustment

$($for example, "assets understated and revenues understated"$).($Enter your answers in alphabetical order.$)$