Styles Dexter, Inc. uses the "Direct Write Ofr' method to account for its uncollectible accounts. Dexter currently has a $400,000 debit balance in its Accounts Receivable account. a) Dexter determines that it cannot collect an Account Receivable from Lynx, Inc. for $80,000. Prepare the Journal Entry to write-off Lynx's $80,000 Account Receivable. b) Calculate the balance in the Accounts Receivable account after the journal entry in part a) is entered into the accounting system (please indicate Dr or Cr with your answer). c) How will the write off in part a) affect Dexter's Financial Statements in the current accounting period? D Assets (Balance Sheet); increase or decrease (pick one)? ii) Expenses (Income Statement): increase or decrease (pick one HIT) Net Income (Income Statement); increase or decrease (pick one)