The accountant for Johnston Company forgot to post an adjusting entry to record accrued revenue (i.e., revenue earned but not yet collected from customers). The effect of this error will result in: an understatement of net income and equity and an overstatement of assets an overstatement of assets, net income, and equity Oan overstatement of net income and an understatement of assets an overstatement of assets and net income and an understatement of equity O an understatement of assets, net income, and equity

The accountant for Johnston Company forgot to post an adjusting entry to record accrued revenue (i.e., revenue earned but not yet collected from customers). The effect of this error will result in: an understatement of net income and equity and an overstatement of assets an overstatement of assets, net income, and equity an overstatement of net income and an understatement of assets an overstatement of assets and net income and an understatement of equity an understatement of assets, net income, and equity