Question: 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.
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?
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