Both A and C are false. OE. All of the above statements are false. QUESTION 6 Use the following information to answer the next 5 questions: On December 31, 2017 a company's Accounts Receivable balance was $440,000. During the year the company recorded credit sales of $770,000 and cash collections of $820,000. In addition, the company wrote off $16,000 of accounts as uncollectible and reinstated an accounts receivable that was previously written off that totaled $3,000. The company uses the allowance method to account for its receivables. Determine the balance in the accounts receivable account on January 1, 2017: OA. $406,000 OB. s471,000 OC.S506,000 O D. $503,000 OE. $374,000 QUESTION 7 Click Save and Submit to save and submit. Click Save All Answers to save all answers