What effect will this adjusting journal entry have on the accounting records?
A)increase income
B)decrease net income
C)decrease expenses
D)increase assets

Question

What effect will this adjusting journal entry have on the accounting records? 
A)increase income 
B)decrease net income 
C)decrease expenses 
D)increase assets

Quizplus · Accepted Answer

Adjusting journal entries are made at the end of an accounting period to update accounts that are not up to date. The objective is to ensure that financial statements are accurate and up-to-date. A decrease in net income is the result of adjusting entries that recognize previously unrecognized expenses or revenues.

What Effect Will This Adjusting Journal Entry Have on the Accounting