Receivables-Bad Debts At January 1, 2016, the credit balance in Master Company's Allowance for Doubtful Accounts was $400,000. For 2016, the provision for doubtful accounts is based on a percentage of credit sales. Credit sales for 2016 were $50,000,000 assume that all of Master's sales are credit sales Based on the latest available facts, the 2016 provision for doubtful accounts is estimated to be 0.7% of credit sales. During 2016, uncollectible receivables amounting to $410,000 were written off against the allowance for doubtful accounts. Required: Prepare a schedule computing the balance in Master's Allowance for Doubtful Accounts at December 31, 2016 MASTER COMPANY Computation of Allowance for Doubtful Accounts 31, 2016 Balance at January 1, 2016 Provision for doubtful accounts for 2016 Write-offs for 2016 Balance at December 31, 2016 400,000 410,000