Alpha failed to record the following journal entry and AJE: (1) The sales discount of $300 taken by a customer (Alpha uses the periodic inventory system), and (2) the AJE for accrued salaries of $900. Failure to record the journal entry and AJE has what effect on assets, liabilities, and net income?

Assets: [ Select ] ["No Effect", "Understated", "Overstated"]

Liabilities: [ Select ] ["No Effect", "Understated", "Overstated"]

Net Income: [ Select ] ["No Effect", "Overstated", "Understated"]