If Oxbow Corporation does not record a sale made on account in December until a month later when the customer pays its invoice, how will Oxbow's December financial statements be impacted?

A$.$ Assets will be understated on the balance sheet, while revenues will be understated on the income statement.

B$.$ Assets will be overstated on the balance sheet, while revenues will be overstated on the income statement.

C$.$ Assets will be understated on the balance sheet, while revenues will be overstated on the income statement.

D$.$ Assets will be overstated on the balance sheet, while revenues will be understated on the income statement.