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(3points Assume the following: There were $1,000,000 in credit sales and $800,000 in accounts receivables. The Allowance Method is used and the company estimates bad

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(3points Assume the following: There were $1,000,000 in credit sales and $800,000 in accounts receivables. The Allowance Method is used and the company estimates bad debt based on 35 o recoivables. There is an edsting debit balance of $8.000 in the Allowance for Doubtful Accounts. What is the amount used for the adjusting entry to record the estimation of bad debe? $10000$24,000$16,000$32,000

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