Queston 8 Kailua Corporation pays $1,000 cash for a previously accrued expense and accrues 5750 for a new expense. What is the effect of these two recordings on Not yet anwwered Points out of 300 Select one Oa Total Liabetes Increase by $1.750 Prag question Netice Decrease by $1750 Ob Totales Increase by S750 Net Income Decrease by 5750 Total Lates Decrease by $1,000 Netincem Decrease by $1.000 O d. Total Liabilities Decrease by $1,000 Net income Decrease by 5250 Total Labs Decrease by $250 Net Income Decrease by $750 Given the following information Question 9 Nelyet wered Overstated Understated Points out of 3.00 P Flug question Sales Discounts Bad Debt Expense Freight-out 5 9 Net Income is Select one O a. Overstated $2 O b. Understated $2 O c. Overstated $7 d. Understated $7 O.Overstated $3