Company 3 pays its workers on the rst day of the month for the previous month's work. At the end tlte last scal year, the adjusting entry for wages was not made. The payroll entries were recorded in the new accounting period as if the proper adjusting entry had been made. What was the result from this adjusting entry mistake? I\" The result was nil because adjusting entries have no impact on the income statement 1"\" The company's net income for the scal year will be understated r... The result was nil because adjusting entries have no impact on the statement of cash ows t" The company's net income for the scal year will be overstated