On August 1, Miller Company purchased $2,600 of supplies on account and debited Supplies. At the end of the calendar year, $1,960 of supplies remained. If the appropriate adjusting entry is not made at the end of the year, what will be the effect on: (a) Income statement accounts (overstated, understated, or no effect)? (b) Net Income (overstated, understated, or no effect)? ( Balance sheet accounts (overstated, understated, or no effect)? Income Statement Accounts Revenue Chaos One Expense Choose Income: Choose One Balance Sheet Accounts Mast: One obiet Chora Bened Langst Dr. O