On 10/1/21, XYZ paid KLM 12,000 for a one year fire insurance policy. 1.) If XYZ recorded the purchase of insurance to a permanent account, the adjusting entry on 12/31/21 is: if the company fails to make an adjusting entry, the impact on the accounting equation is: 2.) If XYZ recorded the purchase of insurance to a temporary account, the adjusting entry on 12/31/21 is: of the company fails to make an adjusting entry, the impact on the accounting equation is: 3.)If XYZ's unadjusted trial balance shows 8,000 in prepaid insurance, the adjusting entry on 12/31/21 is: if the company fails to make an adjusting entry, the impact on the accounting equation is: 4.)if KLM recorded the receipt of payment for an insurance policy to a permanent account, the adjusting entry on 12/31/21 is: if the company fails to make an adjusting entry, the impact on the accounting equation is: 5. If KLM recorded the receipt of payment for an insurance policy to a temporary account, the adjusting entry on 12/31/21 is: if the company fails to make an adjusting entry, the impact on the accounting equation is: 6.) If KLM's unadjusted trial balance shows 8,000 in deferred revenue, the adjusting entry on 12/31/21 is: if the company fails to make an adjusting entry, the impact on the accounting equation is: 1 2 3 4 5 6 Understated Overstated Assets No Effect Understated Overstated No Effect Understated Liabilities Equity Overstated No Effect Understated Overstated No Effect Retained earnings Understated Revenue COGS Overstated No Effect Understated Overstated No Effect Understated Overstated No Effect Expenses Understated Overstated No Effect Net Income