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

An adjusting journal entry is typically made to correct errors or account for transactions that have not yet been recorded. In this case, it is likely that the entry will either increase expenses or decrease revenue, resulting in a decrease in net income. Therefore, option B is the best choice.

What Effect Will This Adjusting Journal Entry Have on the Accounting