1. XXX Company uses the allowance method of estimating its bad debts expense. The Company learned on November 13, 2009, that it would be unable to collect a specific account receivable of $8,300 from a customer, so the company recorded the journal entry to write-off this account receivable balance. (Circle the correct answer for both questions below.) The debit part of the journal entry would have The credit part of the journal entry would the following effect on Expenses: have the following effect on Assets: a. Increase expenses by $8,300 a. Increase assets by $8,300 b. Decrease expenses by $8,300 b. Decrease assets by 8,300 c. Have no effect on expenses c. Have no effect on assets