In 2017 the Sheridan Company had net credit sales of $850000. On January 1,2017, the Allowance for Doubtful Accounts had a credit balance of $21400. During 2017, $32500 of uncollectible accounts receivable were written off. Past experience indicates that the allowance should be 5% of the balance in receivables (percentage-of-receivables basis). If the accounts receivable balance at December 31 was $225000 what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2017? $32650. $32500. $11250. $22350