Knowledge Check of Which of the following statements regarding adjusting entries is true? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect) 7 Cosh is never part of an accrual or deferral adjusting joumal enty Z Adjusting entries affect one balance sheet account. ? Adjusting emiries affect one income statement account. [? Acfusting entries affect one income statement or one balance shet accouts