Allowance for Doubtful Accounts has a credit balance of $679 at the end of the year (before adjustment), and Bad Debt Expense is estimated at 1% of net sales. If net sales are $806,316, the amount of the adjusting entry to record the provision for doubtful accounts is calculated as follows. Round your answer to a whole number. Select the correct answer.

a.$8,742

b.$7,384

c.$8,063

d.$679