On September 1, NoleBank lends $50,000 to a customer with 9% interest. The note and interest are due in twelve months. The note receivable is recorded for $50,000 on September 1, and the following year-end adjusting entry is made on December 31: Interest Receivable 500 Interest Revenue 500 At the end of the year, which of the following is true? Select one: Revenues are understated a. O b. All account balances are correct OC. Assets are overstated. O d. Liabilities are understated