A receipt of $12,600 cash from a customer as a payment on their account was incorrectly credited to Rent Revenue. What is the effect of this error on the financial statements of the company? Multiple Choice Assets are overstated by $25,200 and owners' equity is overstated by $25,200. Assets are understated by $25,200 and owners' equity is understated by $25,200. Assets are understated by $12,600 and owners' equity is understated by $12,600