Indicate How Each Event Affects the Elements of Financial Statements $$\text { Increase } = \mathrm { I } \quad\text { Decrease } = \mathrm { D } \quad\text { No Effect } = \mathrm { N }$$

Short Answer

Indicate how each event affects the elements of financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts. $$\text { Increase } = \mathrm { I } \quad\text { Decrease } = \mathrm { D } \quad\text { No Effect } = \mathrm { N }$$
On March 31, 2014, Stuart Co. wrote off a $600 account receivable of one of its customers. The $600 sale had been made in 2011. Stuart uses the allowance method to account for uncollectible accounts expense. Show how the write-off of the account would affect Stuart's financial statements.