\fIf the entry {1] was not corrected, which nancial statements {income statement or balance sheet} womd be affected? What balances would be overstated or understated? Balance Sheet Cash = Understated Inventory = Overstated Income Statement Nothing 9Word{s} If the entry (2) was not corrected, which financial statements (income statement or balance sheet) would be affected? What balances would be overstated or understated? B U E a Balance Sheet Inventory = Overstated Income Statement Cost of Goods Sold = Overstated Manufacturing Overhead = Understated 14 Word(s) e Textbook and MediaIf the entry {3} was not corrected, which nancial statements {income statement or balance sheet] would be affected? What balances would be overstated or understated? Balance Sheet Cash = Understated Factory Wages = Understated Payroll Taxes = Understated Income Statement lCost of Goods Salt! = Understated Salary Expense = Overstated 20Wordls} eTextbook and Media If the entry (4) was not corrected, which financial statements (income statement or balance sheet) would be affected? What balances would be overstated or understated? B E E 99 a + Balance Sheet Raw Materials = Understated Income Statement Cost of Good Sold = Overstated 12 Word(s) eTextbook and Media