Over$/$Under:$$Alpha erroneously recorded an AJE for interest on a note payable instead of the correct AJE for interest on a note receivable. The interest won$$t be received by Alpha until next year.$$Failure to record the correct AJE has what effect on assets, liabilities, and net income?

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Assets:$[$ Select $]["$Overstated$","$No Effect", "Understated"$]$

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Liabilities:$[$ Select $]["$Understated$","$No Effect", "Overstated"$]$

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Net Income:$[$ Select $]["$Understated$","$No Effect", "Overstated"$]$