The Piepon Corp, recorded the collection of cash in advance of services by debiting Prepaid Expense and crediting Accounts Receivable. What is the effect of the error on Assets and Net Income, respectively? Select one: O a. Understated, No error O b. Overstated, Overstated Oc. Understated, Overstated Od. Overstated, No error Oe. Understated, Understated.