QUESTION 6 If a company fails to make an adjusting entry to record supplies expense, then Not yet answered Marked out of 1.00 P Flag question Select one: a. Expense will be understated. O b. Assets will be understated. c. Net income will be understated. O d. Equity will be understated. QUESTION 7 Not yet answered Marked out of 1.00 The income statement for the month of March, 2011 of Majan Company contains the following information: Revenues R.0.8,400; Expenses R.0.4.320. The entry to close the revenue account includes a P Flag question Select one: a. Debit to Revenue for R.O.4,080. b. Credit to Revenue for R.O.8,400 c. Debit to Revenue for R.0.8.400 d. Credit to Revenue for R.0.4.080