Designer Architects had the following additional information at its November 30, 2020 year-end: a. The Unearned Revenue account showed a balance of $67,000, which represented four months of services paid in advance by a client for services beginning on October 15, 2020 b. The payroll register showed the following unpaid amounts as at November 30: EI Premium 130.41** Income Taxes 1,340.00 ps 233.98** Total Deductions 1,704.39 Net Payable 3,595.61 Office Solaries 3,000.00 Sales Salaries 2,300.00 These values are based on assumed payroll deductions. **The employer's portions of El and CPP are 1.4 times and 1 times the employees' portion, respectively. c. The November utility bill in the amount of $2,660 was unpaid and unrecorded ot November 30. Required: Prepare the appropriate entries at year-end based on the above Information: (Round the final answers to 2 decimal places.) View transaction list Journal entry worksheet Record the earned portion of unearned revenue. Analysis Component If the above entries are not recorded on November 30, 2020, what is the effect on the income statement and the balance sheet? (Enter all value as positive values. Round intermedinte and the final answers to 2 decimal places. Select "No effect" in case of no effect on Income statement and Balance sheet.) Amount Description The income statement would be On the balance sheet, liabilities would be On the balance sheet equity would be On the balance sheet, assets would be Effect understated by overstated by understated by no effect