The September 30,2014,physical Inventory of Pollack Corporation Appropriately Included $6,300

Multiple Choice

The September 30,2014,physical inventory of Pollack Corporation appropriately included $6,300 of merchandise purchased on account that was not recorded in purchases until October 2014.What effect will this error have on September 30,2014,assets,liabilities,retained earnings,and earnings for the year then ended,respectively?

A) Understate;no effect;overstate;overstate
B) No effect;overstate;understate;understate
C) No effect;understate;overstate;overstate
D) No effect;understate;understate;overstate