A trial balance before adjustments included the following: Debit Credit Sales $1,700,000 Sales Returns and Allowance $56,000 Accounts Receivable, 12/31 172,000 Allowance for doubtful accounts 3,040 If the estimate of uncollectible accounts is made by taking 5% of gross accounts receivables, the amount of bad debt expense to be recorded is: O A. $8,600 O B. $5,560 C. $8,448 O D. $11,640