If ABC did not do either of the adjusting entries associated with Transactions A and B (from the above information) on December 31. 2015. determine the cumulative effect of all errors on assets liabilities and equity at December 31.2015 Answer Format: Use O for overstated. U for understated and NE for No Effect Do not space between the OAJ/NE and the dollar amount of the error (Example: If Assets are Over by $2,000 record your answer as O 2000) On April 1. 2015. ABC Inc. received an advance payment from a tenant in the amount of $408 000 that represented five years of rent When ABC receded the a nominal account ABC's year end is December 31. Sadly. ABC was understaffed at the time and no adjusting entries were made in 2015.2016. or 2017. statements