Question: why is current assets and net income not affected? Question 1. ABC Corporation which has accounts receivable of $452,371 and an allowance for doubtful accounts

why is current assets and net income not affected?

Question 1. ABC Corporation which has accounts receivable of $452,371 and an allowance for doubtful accounts of $3,725, decides to write off as worthless a past-due account receivable for $1,600 from XYZ Company. What effect will the write-off have upon total current assets and net income for the period

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