At December 31, 2016, House Co. reported the following information on its statement of financial position: Accounts receivable $970,000 Dr Allowance for doubtful accounts 80,000 Cr During 2017, the company had the following transactions related to receivables. 1. Credit sales $3,700,000. 2. the company estimated bad debt expense as 1% of credit sales. 3. Collections of accounts receivable 2,810,000. 4. Write-offs of accounts receivable deemed uncollectible 90,000. 5. Recovery of bad debts previously written off as uncollectible 29,000. How much is the balance of allowance for doubtful accounts at 31 December 2017 Select one: a. $80,000 b. $19,000. c. $70,000 d. $56,000