Which of the Following Correctly Describes the Following Adjusting Journal

Multiple Choice

Which of the following correctly describes the following adjusting journal entry?

A) Total assets do not change.
B) The transaction is an example of an accrual.
C) Stockholders' equity decreases.
D) Net income is not affecteD.Accrued revenues are previously unrecorded revenues that need to be adjusted at the end of the accounting period to reflect the amount earned and the related receivable account.