McGraw-Hill Connect X Chapter 7. Oz urrent x My Courses alamo.edu x -nnect.mheducation.com/flow/connect.html Quiz Saved Help Save & Exit Submit * You received no credit for this question in the previous attempt. View previous attempt On October 12 of the current year, a company determined that a customer's account receivable was uncollectible and that the account should be written off. Assuming the direct write-off method is used to account for bad debts, what effect will this write-off have on the company's net income and total assets? Multiple Choice No effect on net income; no effect on total assets. No effect on net income decrease in total assets 15 Next >