Question 19 incurred but unpaid expenses that are recorded during the adjusting process with a debit to an expense and a credit to ability are: Accrued expenses Intangible expenses Unearned expenses Prepaid expenses Net expenses Question 20 A company made no adjusting entry for accrued and unpaid employee salaries of $9,000 on December 31. Which of the following statements is true? it will understate current year net income by 59,000 It will understate current-year expenses and overstate current-year net income by $9,000 It will overstate assets and liabilities by $9,000. It will have no effect on income. It will understate assets by 59,000