Accelerated Solutions

The following data are from the company's records for the year ended December 31:

Accounts receivable--January 1	$ 350,000
Credit sales during the year	1,200,000
Collections from credit customers during the year	850,000
Customer accounts written off as uncollected during the year	10,000
Allowance for doubtful accounts--January 1	35,000
Estimated uncollected accounts based on an aging analysis	50,000

What is the balance of Accounts Receivable at December 31?

a. $700,000

b. $690,000

c. $710,000

d. $340,000