Question 4 Indicate the immediate effect each of the following transactions has on net income and the balance in the allowance for doubtful accounts. Select your answer by clicking in the drop down box to the right of each transaction. Answer choices may be used once, more than once, or not at all. ABC Company recorded bad debt expense for the year. [Choose ] ABC Company wrote off an account receivable as uncollectible. [ Choose ] [ Choose ] ABC Company received payment from a customer that it had written-off previously (i.e., recorded a recovery). ABC Company sold inventory to a customer on account (i.e., on credit). [Choose ] [Choose ] net income = no effect; allowance for doubtful accounts = no effect net income = increase; allowance for doubtful accounts = increase Question 4 net income = increase; allowance for doubtful accounts = no effect net income = no effect; allowance for doubtful accounts = decrease Indicate the immediate effect has on net income and the ba accounts. Select your answer the right of each transaction. more than once, or not at all. net income = decrease; allowance for doubtful accounts = increase net income = no effect; allowance for doubtful accounts = increase ABC Company recorded bad debt expense for the year. [ Choose ] ABC Company wrote off an account receivable as uncollectible. [Choose ] [Choose ] ABC Company received payment from a customer that it had written-off previously (i.e., recorded a recovery). ABC Company sold inventory to a customer on account (i.e., on credit). [ Choose ]