Kee Company accumulates the following adjustment data at December 31. Indicate (a) the balance sheet account that requires adjustment and (b) whether the identified balance sheet account is over or understated before any adjustments are recorded. (b) Balance sheet account Overstated or Understated (a) Balance sheet account 1 Supplies Overstated 2 Accounts Receivable Understated Supplies of $100 are on hand. Kee Company started the year with $1.100 of supplies on hand, Services were performed but not recorded Interest of $200 has accumulated on a note payable Collected $650 of cash in advance before performing the related services. The services have now been performed 3 Interest Payable Understated Overstated