Failure to record the expiration of prepaid insurance will have what effect? Select one: O a. Assets Expenses Retained Earnings Overstated Understated Overstated O b. Assets Expenses Retained Earnings Overstated No Effect No Effect O C. Retained Earnings Assets Expenses Understated Overstated No Effect O d. Retained Earnings Assets Expenses Overstated No Effect Overstated Retained Earnings Assets Expenses Understated Understated Understated