14. Receivables High Water Co. uses the percentage of receivables method to account for bad debt. Allowance for doubtful accounts currently had a balance of $8,000 at the beginning of the year. Sales during the year totaled $3,500,000 and the gross AR value totals $900,000 at year end. High Water wrote off $2,000 of receivables during the year and estimates the allowance balance to be 1.5% of total receivables at year end. What will be the ending balance in the allowance account at year end? a. $8,000 b. $0 c. $13,500 d. $5,500