Swartz Corporation wrote off a $1,600 uncollectible account receivable against the $48,000 balance in its allowance account.

Question:

Swartz wrote off a $1,600 uncollectible account receivable against the $48,000 balance in its allowance account.
Required
Explain the effect of the write-off on Swartz's current ratio.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...