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I would say both
can·cel ( P ) Pronunciation Key (knsl)
v. can·celed, also can·celled can·cel·ing, can·cel·ling can·cels, can·cels
v. tr.
To cross out with lines or other markings. See Synonyms at erase.
To annul or invalidate.
To mark or perforate (a postage stamp or check, for example) to indicate that it may not be used again.
To equalize or make up for; offset: Today's decline in stock price canceled out yesterday's gain.
Mathematics.
To remove (a common factor) from the numerator and denominator of a fractional expression.
To remove (a common factor or term) from both sides of an equation or inequality.
Printing.
To omit or delete.
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