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 of accounting for uncollectible accounts. In February of 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 answers correctly states the effect of Loudoun Company's February Year 2 entry to write off the customer's account? Assets NA LiabEqity RevExpenses Net Inc. Cash Flow NA NA(1,050) NA NA NA NA NA NA A. NA+ NA NA- B. (1,050)NA (1,050) (1,050) NA (1,050) NA NA = (1,050) + c. D. NA - 1,050 + (1,050) NA - = 1,050- (1,050) Multiple Choice Option D Option B Option C