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Allowance for Doubtful Accounts has a debit balance of $537 at the end of the year (before adjustment), and Bad Debt Expense is estimated at

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Allowance for Doubtful Accounts has a debit balance of $537 at the end of the year (before adjustment), and Bad Debt Expense is estimated at 1% of sales. If net credit sales are $896,700, the amount of the adjusting entry to record the estimate of the uncollectible accounts is a. $8,430 b. $537 c. $8,967 d. $9,504

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