Accounts Receivable: Exercise The following data are available for 2008: Allowance for Doubtful Accounts, Jan. 1 $41,000 Write-offs of A/R during the year $35.000 Net credit sales for the year $1,300,000 Bad debts are estimated to be 3% of net credit sales. The balance of the allowance account after adjustment should be: A. $4,000 B. $39,000 C. $45,000 D. $80,000