On November 2,2017,Quaint General Store Concluded That a Customer's $400

Multiple Choice

On November 2,2017,Quaint General Store concluded that a customer's $400 account receivable was uncollectible and that the account should be written off.What effect will this write-off have on Quaint's 2017 net income and balance sheet totals assuming the allowance method is used to account for bad debts?

A) Decrease in net income;decrease in total assets
B) Increase in net income;no effect on total assets
C) No effect on net income;decrease in total assets
D) No effect on net income;no effect on total assets