Gross Accounts Receivable Is $15,000

Multiple Choice

Gross Accounts Receivable is $15,000.Allowance for Doubtful Accounts has a credit balance of $300.Net credit sales for the year are $140,000.In the past,1% of credit sales had proved uncollectible.What would be the adjusted balance of the Allowance account under the income statement approach?

A) $2,400
B) $1,700
C) $1,400
D) $1,100