Indicate below whether each category is overstated, understated, or correct as a result of this error. Category. Pick one Assets Liabilities Equity Sales Sales Discounts > Net Sales Gross Margin Net Income A company is being paid the balance due to them within the discount period for a $1,000 invoice with terms of 2/10, net 30. They erroneously record the journal entry for the payment received as: Dr. Cash 980 Cr. Accounts Receivable 980