At the beginning of 2017, Yummy Cupcakes, Inc. has the following ledger balances: Accounts Receivable $40,000 (Debit) Allowance for Bad Debts $5,000 (Credit) During the year, credit sales amounted to $820,000. Cash collected on credit sales amounted to $750,000, and $16,000 has been written off. Yummy Cupcakes uses the aging-of- receivables method to record bad debts expense. The estimate of uncollectible accounts was $29,000. The ending balance in the Allowance for Bad Debts is A) $29,000 B) $24,000 C) $40,000 D) $16,000