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Abbott Company uses the allowance method of accounting for uncollectible accounts. Abbott estimates that 3%...

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Accounting

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Abbott Company uses the allowance method of accounting for uncollectible accounts. Abbott estimates that 3% of credit sales will be uncollectible. On January 1, the Allowance for Doubtful Accounts had a credit balance of $3,400. During the year, Abbott wrote off accounts recelvable totaling $2,100 and made credit sales of $93,000. After the adjusting entry, the December 31 balance in Bad Debt Expense will be a. 52790 b. 54,090 c. 53,400 d. 56,190

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