Certain account balances from the general ledger of the BCG at the beginning of a year are given below. During the year, new loans made were $700,000; collections of loans were $670,000. In compiling interim financial statements during the year, the provision for loan losses of $3,500 was recorded. Specific loans amounting to $3,100 were written off as uncollectible. At the end of the year (after recording the events described above), the BCG prepared an aged trial balance of billed and open loans receivable. Based on an analysis of the aged trial balance, management decided that the final year-end balance in the allowance for uncollectible loans should be $2,400. Accordingly, the BCG's accountant made an adjusting entry at the end of the year to reflect management's decision (i.e. judgment regarding uncollectible accounts).

After making the final year-end adjustment, which of the following is a correct statement: *

A) The final amount of the provision for loan losses charged against income for the year is$5,900. B) The final amount of provision for loan losses charged against income for the year is$3,700. C) The reported balance of gross loans receivable (i.e., billed and open loans) at the end ofthe year amounts to $186,700. D) The reported amount of net loans receivable (i.e., gross loans receivable less the allowancefor uncollectible loans) at the end of the year amounts to $188,200. E) The reported amount of net loans receivable (i.e., gross loans receivable less the allowance for uncollectible loans) at the end of the year amounts to $181,000.