Buttercup Florist uses the allowance method to account for uncollectible accounts. Unable to collect a $150 account from a customer, Buttercup determined it was uncollectible. How would the write-off of this account affect the company's financial statements? 
Definitions:
Underwriter
An entity that assesses and assumes the risk of another party, often in financial markets, insurance, or public offerings.
Issuing Securities
The process of offering new stocks or bonds to the public or existing shareholders to raise capital.
Legal Fees
Charges for the professional services provided by lawyers or attorneys.
Abnormal Returns
Returns on a stock or portfolio that exceed the benchmark or expected return based on the risk assessment.
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