The Pieper Corp. recorded the accrual of an expense by debiting Accounts Receivable and crediting Unearned Revenue. What is the effect of the error on the following? Select one: O a. b. Liabilities No error Liabilities No error Net Income No error Net Income Overstated Liabilities Understated Net Income Overstated d. Liabilities Understated Net Income No error Liabilities Overstated Clear my choice Net Income Understated