Failure to record the adjusting entry for unearned revenue of $500 which is now earned will cause the adjusted trial balance debit column total to be $500 overstated and the credit column total to be $500 understated. the adjusted trial balance debit column total to be $500 overstated and the credit column total to be $500 overstated. the adjusted trial balance debit column total to be $500 understated and the credit column total to be $500 overstated. the adjusted trial balance debit column total to be correct and the credit column total to be correct