ig Enabled: Exam $3($Ch $8-10)$

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On October $12$ of the current year, a company determined that a customer's account recelvable was uncollectble and that the account should be written off. Assuming the allowance method is used to account for bad debts, what effect will this write$-$off have on the company$/$s net income and total assets?

Mutiple Choice

Increase in net income; no effect on total assets.

No effect on net income; no effect on total assets.

Decrease in net income; decrease in total assets.

Decrease in net income; no effect on total assets.

No effect on net income, decrease in total assets.

Prov

$5$ of $17$

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