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's recording the reestablishment of the receivable on April 4, Year 2? Balance Sheet Liabilities + Accounts Income Statement Statement of Cash Assets Stockholders' Equity Common Retained 4686 Cash NA Net Realizable value Payable Stock earnings Revenue Expenses Net Income Flows 1,050 (1,050) NA NA NA NA NA NA NA b. NA (1,050) NA + NA (1,050) (1,050) NA (1,050) NA NA (1,050) (1,050) NA NA NA NA NA NA d. NA 1,050 (1,050) 1,050 +(1,050) NA NA 1,050 (1,050) NA Mutiple Choice Option A Outon Option C