Which of the following correctly states the effect of Loudon Company's February Year 2 entry to write of the customer's account? - Exp. MA Assets A. MA 3. 1,850) C. (1,050) D NA Liab. NA NA (11,050) 1.ee Stk. Equity NA (1.950) 104 (1,050) Rev. NA (2.650) NA NA Net Inc RIA (1.050) NA Stut of Cash Flows NA NA NA 85 1,050 Mumple Choice Option Options Coton Option On December 31, Year the Loudon Corporation estimated that of its credit sales of $112.500 would be uncollectible Loudoun uses the allowed method. On February 15, Year 2, one of Loudoun's customers failed to pay his $1050 account and the account was written off. On April 4. Year 2, this customer pold Loudoun the $1050 sume that the Loudon Corporation uses the direct wite-off method. Which of the following correctly describes the effect of the wite off of the cutomer account on Loudon's hand tatements Exp. Assets A. NA D(2.050 C. (1.050) D. MA Llab. MA TA (1,050 1,050 Stk. Equity NA (1.050) NA (1,050 Hev. NA NA NA NA 1,050 NA 1,054 PP Stat of Cash Flous NA MU NA NA Net Inc. NA (L.650) MA (1.050) Mu Choico Collane Cool DA Cotion