When the records of Debra Hanson Corporation were reviewed at the close of 2015, the errors listed below were discovered. For each item, indicate by a check mark in the appropriate column whether the error resulted in an overstatement, an understatement, or had no effect on net income for the years 2014 and2015.

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2014 Under- 2015 No Under- statement statement Effect statementstatement Effect 1. Failure to record amortization 2. Failure to record the correct amount of ending 2014 understated because of an 3. Failure to record merchandise Merchandise was also omitted from ending inventory in 2014 but was not yet sold. 4. Failure to record accrued interest on notes payable in 2014; that amount was recorded when paid in 2015. 5. Failure to reflect supplies orn hand on balance sheet at end