Glebe Company Accepted a Credit Card as Payment for $1,100

Glebe Company accepted a credit card as payment for $1,100 of services provided to a customer. The credit card company charges a 5% fee for handling the transaction. What effect will the collection of cash from the credit card company have on the elements of the financial statements?

A) Increase assets by $1,045
B) Decrease assets and stockholders' equity by $55
C) Increase assets by $1,100
D) None of these answer choices are correct