QUESTION 4 What is the impact of accrued expenses before year end adjusting entries? O A. Understate expenses and overstate liabilities OB. Understate assets and understate expenses OC. Understate expenses and understate labilities O D.Overstate assets and understate expenses QUESTION 5 What is the adjusting entry for Unearned revenues? O A. Debit Liabilities, Credit: Revenues OB. Debit Assets, Credit Revenues OC. Debit: Revenues, Credit Assets O D. Debit Revenues, Credit: Liabilities