Callahan Corporation recorded an adjusting entry using T-acc…
Callahan Corporation recorded an adjusting entry using T-accounts as follows: Interest ReceivableDebitCredit75 Interest RevenueDebitCredit 75 Which of the following reflects how this adjustment affects the company’s financial statements? Balance SheetIncome StatementStatement of Cash FlowsAssets=Liabilities+Stockholders’ EquityRevenue−Expense=Net IncomeA.Increase=Increase+ − = Increase Financing Activity (FA)B.Increase= +IncreaseIncrease− =Increase C.Increase= +IncreaseIncrease− =IncreaseIncrease Operating Activity (OA)D.Decrease= + Decrease− =Decrease