On January 1, Rutgers Magazines received $600 for annual subscriptions to its magazine. They made the following (incorrect) journal entry: January 1 Dr. Cash $600 Cr. Revenue $600 Which of the following is true concerning Rutgers Magazines financial statements on January 31 because of this mistake? Choose all that apply Assets are overstated by $600 Liabilities are overstated by $600 Revenues are overstated by $550 Expenses are not affected There is no mistake