Alpha, Inc., made errors and/or omissions during the current year as described below. Indicate the effect of these errors and omissions on total assets, total liabilities, and net income for the year using the following code: O = overstated, U = understated, N = no effect.

Over/Under: alpha failed to record two types of AJEs ( as described in class): An accrued expense for $1,000 and a deferred revenue( not the unusual AJE) for $800. Failure to record these AJEs has what effect on assets, liabilities and net income?

Explain the answer please