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$32000 Jpoints Assume the following: There were $1,000,000 in credit sales and $800,000 in accounts...

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Accounting

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$32000 Jpoints Assume the following: There were $1,000,000 in credit sales and $800,000 in accounts recelvables. The Allowance Method is used and the company estimates bad debt based on 3% of receivabies. There is an existing debit balance of $8,000 in the Allowance for Doubtful Accounts. What is the ending balance for the Allowance for Doubtful Accounts after the adjusting entry has been made for bad debt? $16,000$24,000$40,000$32,000

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