The companys credit department previously written off a customer credit account. A few months later, the former customer mailed a cheque and paid off its debt. What affect does the payment of a previously written off account have on have on the income statement and balance sheet?

Select one:

a.

Profit is unchanged and total asset have decreased

b.

Profit is decreased and total assets are unchanged

c.

Profit is decreased and total assets have decreased

d.

Profit is unchanged and total assets are unchanged