Association Corporation ended 20X2 with accounts receivable of $400,000 and an allowance for doubtful accounts of $26,000. During 20X3, $1,200,000 of credit sales were made. Cash collections were $1,100,000 and an additional $17,000 in receivables were written off as uncollectible. For years, the company has estimated that 3% of ending accounts receivable will prove to be bad. On December 31, 20X3, company officials found another $7,000 in receivables that might be uncollectible. After further review, these receivables were not written off at this time. By how much did that decision not to write off these $7,000 of receivables impact reported net income? A. Net income was $7,000 lower B. Net income was $6,790 higher Net income was $7,000 higher C. D. E. Net income was $12,280 higher Net income was unchanged