DR1 All of the following are categories of adjusting entries except: O deferrals O estimated allocations o estimated payments accruals DI 2 If an adjustment for revenue that has been earned but not recorded was not made O liabilities and owners equity would be understated O net income and assets would be understated revenues and liabilities would be overstated O assets and owners sequity would be overstated If an adjustment for expense that has been incurred but not paid was not recorded. O net income and assets would be understated ) revenues and liabilities would be overstated assets and owners cquity would be overstated liablines and owniers eauity would be understated