Hickory Waterwork accounting manager was reviewing the month-end trial balance He noticed that rent and utility bill obligations totalling $1200 had been received but had not yet been recorded if the appropriate adjusting entry is NOT made, what is the impact on the trial balance accounts? OA Expenses would be overstated Liabilities would be understated OB Assets would be understated, Expenses would be understated Assets would be overstated Expenses would be understated o. Exposes would be understated Libilities would be understated