On September 1, a company received $4,800 for services to be performed over the next 6 months, with an equal amount of work to be completed each month. If no adjusting entry is made on December 31,

	a.	net income will be understated by $4,800.
	b.	net income will be overstated by $1,600.
	c.	net income will be understated by $3,200.
	d.	net income will be understated by $4,800.
	e.	none of the above