Kee Company accumulates the following adjustment data at December 31. Indicate

(a) The balance sheet account that requires adjustment

(b) Whether the identified balance sheet account is over- or understated before any adjustments are recorded.

1. Supplies of $100 are on hand. Kee Company started the year with $1,100 of supplies on hand.

2. Services were performed but not recorded.

3. Interest of $200 has accumulated on a note payable.

4. Collected $650 of cash in advance before performing the related services. The services have now been performed.