Multiple Choice Question 104 In 2016, Vaughn Company had credit sales of $1210000 and granted sales discounts of $24000. On January 1, 2016, Allowance for Doubtful Accounts had a credit balance of $27400. During 2016, $41800 of uncollectible accounts receivable were written off. Past experience indicates that 4% of net credit sales become uncollectible. What should be the adjusted balance of Allowance for Doubtful Accounts at December 31, 2016? $33040 $34000 $48400 $49360