Company uses the allowance method to account for uncollectible accounts receivable.

<p><em><strong>After recording the estimate of uncollectible accounts expense for the current year, company decided to write off in the current year the $10,000 account of a customer who had filed for bankruptcy. What effect does this write-off have on the company’s current net income and total current assets, respectively?Net Income</strong></em></p> <p><em><strong>Net Income                      Total current assets</strong></em></p> <p><em><strong>   a) Decrease                                      Decrease</strong></em></p> <p><em><strong>   b) No effect                                      Decrease</strong></em></p> <p><em><strong>    c) Decrease                                     No effect</strong></em></p> <p> </p> <p><em><strong>    d) No effect                                      No effect</strong></em></p>