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Gradebook On February 1, Parker Company purchased $1,900 of supplies on account and debited Supplies At the end of the calendar year, $1,800 of supplies remained. If the appropriate adjusting entry is not made at the end of the year, what will be the effect on: If you d incorrectly 2 practice a (a) Income statement accounts (overstated, understated, or no effect)? ) Net income (overstated, understated, or no effect)? (c) Balance sheet accounts (overstated, understated, or no effect)? Choose One Choose One Choose One v Choose One Choose One Assets Clear Undo i Explain