In Year 2, Micro Services Company records the payment of $325 cash for an expense accrued in Year 1 and records the accrual of $175 for another expense. The impact of these two entries on Year 2 total liabilities and net income, respectively, is: Select one: a. decrease by $150, decrease by $500 O b. No effect, decrease by $175 c. increase by $175, decrease by $175 O d. decrease by $150, decrease by $175 e. No effect, decrease by $500