de av Normal No Spacing Heading 1 1. An adjusting entry debiting Supplies Expense and crediting Supplies is an example of adjusting a[n) a.detected revenue b.prepaid revenue. food expense. d.crepaid, expense. 2.If the following adjusting entry is amitted, what effect will this have on the financial statements? Uneamed Rent 3200 Rent Revenue 3,200 a. There will be no effect on liabilities b.There will be no effect on net income Revenues will be understated by $3,200. d.Rexecues, will be overstated by $3,200. 3. Which of the following statements regarding adjusting entries is true? adusting entries are dated as of the first day of the new accounting period. badusting entries are optional with accrual basis accounting, Adiusting entries are not posted to the ledger d.None of these statements are true