The balance in the unearned rent account for Jones Co. as of December 31 is $1,200.

The balance in the unearned rent account for Jones Co. as of December 31 is $1,200. If Jones Co. failed to record the adjusting entry for $600 of rent earned during December, the effect on the balance sheet and income statement for December would be:

A. assets understated $600; net income overstated $600.

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B. liabilities understated $600; net income understated $600.

C. liabilities overstated $600; net income understated $600.

D. liabilities overstated $600; net income overstated $600.

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