Effects of errors on financial statements The accountant for Healthy Life Company, a medical services consulting firm, mistakenly omitted adjusting entries for (a) unearned revenue earned during the year ($25,260) and (b) accrued wag ($6,640). Indicate the effect of each error, considered individually, on the income statement for the current ended July 31 . Also indicate the effect of each error on the July 31 balance sheet. Enter all amounts as positive numbers. Enter "0" in those spaces where there is no overstatement no understatement. Error (a) The adjusting entry for unearned revenue earned during the year ($25,260) was omitte Error (b) The adjusting entry for accrued wages ($6,640) was omitted