You are the new bookkeeper for a small business. The checking account of the business has not been reconciled for awhile. As you perform this task, you notice that two checks issued by the company are over a ear old an have not cleared the bank. You do some research and learn that the vendor to whom these checks were issued has shutdown and is no longer doing business. What is the effect of uncleared checks on your accounting? 0 00 0 Understated Accounts Payable and understated Cash. Overstated Accounts Payable and understated Cash. Overstated Accounts Receivable and overstated Cash. Understated Accounts Receivable and understated Cash