For the year ending December 31, Orion, Inc. mistakenly omitted adjusting entries for $1,500 of supplies that were used, (2) unearned revenue of $4,200 that was earned, and (3) insurance of $5,000 that expired. For the year ending December 31, what is the effect of these errors?单项选择题

A

None of the other three

B

expenses are overstated by $6,500

C

revenues are overstated by $4,200

D

expenses are understated by $3,500

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Received $1,000 invoice for April's utilities expense. (Hint: Bills and invoices reflect goods or services that have been provided, but are unpaid, unless specified otherwise.)

For what are Adjustments used?

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