Which of the following statements is true? Multiple Choice If revenues are less than expenses, the company has a net loss and retained earnings decreases. If revenues are greater than expenses, the company has net income and contributed capital Increases. If revenues are greater than expenses, the company has net income and retained earnings decreases. If revenues are less than expenses, the company has a net loss and contributed capital increases to balance off the loss. A company has a loan that accrues interest at a rate of $20 a day. The company pays the interest once a quarter. Which of these would be an accurate adjustment for a month in which no payments are made? Multiple Choice Debit Interest payable and credit Interest expense. Debit loans payable and credit cash. Debit Interest expense and credit Interest payable. O Debit cash and credit loans payable. O