On December 1, Morris Company purchased $2,940 of supplies on account and debited Supplies. At the end of the calendar year, $2,060 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)? (6) Net Income (overstated, understated, or no effect)? (c) Balance sheet accounts (overstated, understated, or no effect)? Income Statement Accounts Recenie: Che One Expense Choon One Het Income Choose One