1 December 31, Year 1, the Loudoun Corporation estimated that 3% of its credit sales of $112,500 would be uncollectible. Loudoun uses the allowance ethod. On February 15, Year 2, one of Loudoun's customers failed to pay his $1,050 account and the account was written off. On April 4, Year 2, this stomer paid Loudoun the $1,050. hich of the following correctly states the effect of Loudoun's recording the reestablishment of the receivable on April 4, Year 2? Balance Sheet Income Statement Assets Liabilities +Stockholders' Equity Net Realizable Accounts Common Retained Stateme a. Cash NA + Value. 1,050 (1,050) Payable + Stock. earnings Revenue, Expenses Net Income Cash F NA + NA NA NA NA b. c. NA (1,050) NA + NA (1,050) (1,050) NA NA (1,050) NA (1,050) (1,050) + NA NA NA NA NA d. NA 1,050 (1,050) 1,0501 + (1,050) NA NA 1,050 (1,050) 3333 NA NA NA NA