In 2020, Crane Company had net credit sales of $1124000. On January 1, 2020, Allowance for Doubtful Accounts had a credit balance of $26000. During 2020, $41000 of uncollectible accounts receivable were written off. Past experience indicates that the allowance should be 8% of the balance in receivables (percentage-of-receivables basis). If the accounts receivable balance at December 31 was $375000, what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2020? O $15000 O $45000 O $30000 O $15000

In 2020, Crane Company had net credit sales of $1124000. On January 1,2020, Allowance for Doubtful Accounts had a credit balance of $26000. During 2020,\$41000 of uncollectible accounts receivable were written off. Past experience indicates that the allowance should be 8% of the balance in receivables (percentage-of-receivables basis), If the accounts receivable balance at December 31 was $375000, what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2020? $15000$45000$30000$15000