For each of the following potential unrecorded liabilities, determine the effects of the omission on both the balance sheet and income statement of the client. Assume that the inventories recorded on the balance sheet reflect the results of a year$-$end $($December $31)$ physical inventory. $($If there is no effect select $"$No effect" from dropdown.$)$

a$.$ An invoice for $$3,000$ worth of inventory items, dated January $1$ and bearing terms of FOB destination, was not recorded. The goods were shipped December $27$ and were received on December $30.$

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b$.$ An invoice for $$5,500$ worth of inventory items, dated December $30$ and bearing terms of FOB destination, was not recorded. The goods were shipped December $28$ and received January $2.$

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