Abbott Company uses the allowance method of accounting for uncollectible receivables. Abbott estimates that 3% of credit sales will be uncollectible. On January 1, Allowance for Doubtful Accounts had a credit balance of $3,000. During the year, Abbott wrote off accounts receivable totaling $2,600 and made credit sales of $99,000. After the adjusting entry, the December 31 balance in Bad Debt Expense will be a. $2,970 b. $3,000 c. $5,970 d. $3,370