Please explain how you got the beginning accounts receivable balance! The answer is not D (not $503,000).

Thank you!

QUESTION 6 Use the following information to answer the next 5 questions: On December 31, 2019 a company's Accounts Receivable balance was $440,000. During the year the company recorded credit sales of $770,000 and cash collections of $820,000. In addition, the company wrote off $16,000 of accounts as uncollectible and reinstated and collected an accounts receivable that was previously written off that totaled $3,000. The company uses the allowance method to account for its receivables. Determine the balance in the accounts receivable account on January 1, 2019: A. $406,000 B. $471,000 C. $506,000 O D. $503,000 OE. $374,000