Failure to record a period end adjusting journal entry for deferred revenue that was recognized during the period results in:

$($A$)$ an overstatement of the income statement and overstatement of the overall balance sheet

$($B$)$ an understatement of the income statement and overstatement of the overall balance sheet

$($C$)$ an understatement of the income statement and understatement of the overall balance sheet $($D$)$ an overstatement of the income statement and understatement of the overall balance sheet