Abbott Company uses the allowance method of accounting for uncollectible accounts. Abbott estimates that 2% of credit sales will be uncollectible. On January 1, the Allowance for Doubtful Accounts had a credit balance of $3,100. During the year, Abbott wrote-off accounts receivable totaling $2,600 and made credit sales of $115,000. After the adjusting entry, the December 31 balance in Bad Debt Expense would be Select the correct answer. $2,300 $3,100 $2,800 $5,400