On December 31, Year 1, the Loudoun Corporation estimated that 3% of its credit sales of $112,500 would be uncollectible. Loudoun uses the allowance method. On February 15. Year 2, one of Loudoun's customers failed to pay his $1.050 account and the account was written off. On April 4, Year 2, this customer paid Loudoun the $1,050. Which of the following correctly states the effect of Loudoun Corporation's February Year 2 entry to write off the customer's account? Balance Sheet Income Statement Assets Liabilities Stockholders' Equity Cash + NA Net Realizable Value 1,050 (1,050) Accounts Payable + Common Retained Stateme Stock earnings NA + NA NA b. NA (1,050) NA + NA c. NA (1,050) (1,050) + NA d. NA 1,050 (1,050) 1,050 +(1,050) (1,050) NA NA Revenue NA (1,050) NA NA -Expenses Net Income NA (1,050) Cash F NA NA NA NA NA NA NA 1,050 (1,050) NA Multiple Choice Option A Option B Option C "