Bennett Company's employees earn $320 per day and are paid on Friday for a five-day work week. This year, December 31 is a Wednesday. If the appropriate adjusting entry is not made at the end of the year, what will be the effect on: (a) Income statement accounts (overstated, understated, or no effect)? (b) Net income (overstated, understated, or no effect)? (c) Balance sheet accounts (overstated, understated, or no effect)? tatemen Revenue Choose One Expense: Choose One Net Income: Choose One Assets: Choose One Liabilities: Choose One Retained Earnings: Choose One Clear Undo Help Next >> Explain