Effect of Ommission Classification 1 2 3 4 5 6 7 8. Revenues Expenses Profit Current Assets Non-current Assets Current Liabilities Non-current Liabilities Owner's Equity 1. Proceeds of 3-year loan was not recorded. 2. Bad debt expense was not recorded. 3. Depreciation was not recorded. 5. Accrued income was not recorded. 7. Interest payable was not recorded. 4. Prepaid insurance was not adjusted. 6. Unearned income was not adjusted. 8. Accrued expense was not recorded