nline Ch 5-6 6 Help Save&Exit Submi On December 31, Year 1 the Loudoun Corporation estimated that 3% of its credit sales of S112. OO would be uncolectibe Loudoun uses the allowance method of accounting for uncollectible accounts. In February of Year 2, one of Loudoun's customers failed to pay his $1050 account and the account was written off On April 4, Year 2. this customer paid Loudoun the $1,050 Which of the following answers correctly states the effect of recording the collection of the reestablished receivable on April 4, Year Net Inc. Cash Flow NA NA+ NA B 1,050NA1,050 ,050 c. 1,050NA1,050 NA NA1,050 1,050 0A NA1,050),050 NA KAA 1,050 OA NA NA Mutiple Choice Option D Option 8 C Prev 20 of 35 Next 888.. 8 5