On April 1, Snell Company sold on account merchandise with a list price of $50,000. Payment terms were 3/10, n/30. The receivable was collected from the customer on April 8. Considering only the collection of cash from the receivable, what effect will the transaction have on the company's financial statements? Income Statement Balance Sheet Stockholders' Assets Liabilities + Equity Revenue A. (1,500) NA (1,500) (1,500) Expense NA Net Income (1,500) ook B. (1,500) NA (1,500) (1,500) NA (1,500) C. (1,500) NA (1,500) D. 48,500 NA 48,500 NA 48,500 (1,500) 500 Statement of Cash Flows 48,500 OA NA 1,500 OA NA 48,500 48,500 OA ences Multiple Choice Option A Option B Option C