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For 2021, Rahal's Auto Parts estimates bad debt expense at 3% of credit sales. The...

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For 2021, Rahal's Auto Parts estimates bad debt expense at 3% of credit sales. The company reported accounts receivable and an allowance for uncollectible accounts of $93,500 and $3,500, respectively, at December 31, 2020. During 2021, Rahal's credit sales and collections were $418,000 and $422,000, respectively, and $3,740 In accounts receivable were written off. Rahal's 2021 bad debt expense is: Multiple Choice None of these answer choices are correct. $3,500. $3.740. O $12.660

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