On October 12 of the current year, a company determined that a customers account receivable was uncollectible and that the account should be written off. Assuming the direct write-off method is used to account for bad debts, what effect will this write-off have on the companys net income and total assets?Multiple ChoiceDecrease in net income; no effect on total assets. No effect on net income; no effect on total assets.Decrease in net income; decrease in total assets.Increase in net income; no effect on total assets.No effect on net income; decrease in total assets.