Indicate the impact on the income statement and balance sheet if the following adjusting entries were omitted. You should indicate which of items shown would be overstated or understated. Services provided to customers on the last day of the month were not billed and no adjustment was recorded. 1 A B I Revenue Expenses = Net Income Assets = Liabilities + Owner's Equity Understated/Overstated

Indicate the impact on the income statement and balance sheet if the following adjusting entries were omitted, You should indicate which of items shown would be overstated or understated. Services provided to customers on the last day of the month were not billed and no adjustment was recorded