Identify the effect omitting each of the following items would have on the balance sheet. No adjustment was made for supplies used up during the month..? Services provided to customers on the last day of the month were not billed.? An attorney has earned 1/2 of a retainer fee that was received and recorded last month. No adjustment was recorded for the amount earned.? -assets understated and and owners equity overstated -assets and owners equity overstated -liabilities understated and owners equity overstated -liabilities and owners equity understated -assets overstated and owners equity understated assets and owners equity understated -liabilities and owners equity overstated -liabilities overstated and owners equity understated