International, Inc. established an allowance for bad debts at the end of October. In November, International wrote off a $500 account receivable because payment was considered to be remote. What would be the effect of the $500 account receivable write-off on International's November financial statements? O Assets would decrease, liabilities would remain constant and retained earning would decrease. O Assets would remain constant; liabilities would increase and retained earnings would decrease. O No change would be made in total assets, liabilities or shareholder's equity. O Assets would decrease, liabilities would decrease and retained earnings would remain constant