ne Yowell Company granted a sales discount of $360 to a customer when it collected the amount due on account. Yowell uses the perpetual inventory system. Which of the following answers reflects the effects on the financial statements of only the discount? Assets (360) n/a (360) n/a Balance Sheet Liabilities n/a (360) n/a (360) A. B. C. D. Equity (360) 360 (360) 360 Income Statement Expense n/a n/a n/a n/a Revenue (360) 360 (360) 360 Statement of Cash Flows (360) OA n/a n/a n/a Net Income (360) 360 (360) 360 Multiple Choice Option A Option B