6. The collection of an account that had been previously written off under the allowance method of accounting for uncollectibles a. will increase net income in the period it is collected b. will decrease net income in the period it is collected. C. does not affect net income in the period it is collected. d. requires a correcting entry for the period in which the account was written off. Ref#AEEC-03-06 Prepaid advertising, representing payment for the next year, is considered a(n) Select one: a. deferred expense. b. deferred revenue. X c. accrued expense. d. contra asset