The accountant for the Linville Company forgot to make an adjusting entry to record revenue earned but not yet billed to customers. The effect of this error is: a. An overstatement of assets and of net income offset by an understatement of stockholders' equity.
b. An overstatement of net income and an understatement of assets.
c. An understatement of assets, net income, and stockholders' equity.
d. An overstatement of liabilities offset by an understatement of stockholders' equity

The following transactions occurred during july: received $1,000 cash for services provided to a customer during july. received $4,000 cash investment from bob johnson, the owner of the business received $850 from a customer in partial payment of his account receivable which arose from sales in june. provided services to a customer on credit, $475. borrowed $7,000 from the bank by signing a promissory note. received $1,350 cash from a customer for services to be rendered next year. what was the amount of revenue for july?