Adjusting entries - 1 Determine the effects of the following adjusting -related items on the income statement and statement of financial position balances dated December 31, 2019. Indicate whether - overstated, U- understated, or NE - no effect. Item Revenues Expenses Assets Liabilities Owner's Equity 2 A B 3 4 5 D 7 8 E 10 A. Failure to accrue interest expense amounting to P3,000 for the fourth quarter. B. Failure to accrue rental revenues amounting to P55,000 for the month of December C. Failure to recognize the uneamed portion of the P120,000 advance consulting fees covering a nine-month period received last March 1, 2019 and initially recorded as a nominal account D. Failure to recognize the P20,000 earned portion of the repairs revenue initially recorded as a real account when the cash was received E. Failure to recognize P5,000 unused office supples for supplies bought last June 1 2019 which was taken up in the books using a nominal account