A $130 credit to Office Equipment was credited to Fees Earned by mistake. By what amounts are the accounts under- or overstated as a result of this error?
A) Office Equipment, understated $130; Fees Earned, overstated $130.
B) Office Equipment, understated $260; Fees Earned, overstated $130.
C) Office Equipment, overstated $130; Fees Earned, overstated $130.
D) Office Equipment, overstated $130; Fees Earned, understated $130.
E) Office Equipment, overstated $260; Fees Earned, understated $130.
Correct Answer:
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