Allowance for Doubtful Accounts has a debit balance of $700 at the end of the year (before adjustment), and bad debt expense is estimated at 1% of credit sales. If credit sales are $763,000, the amount of the adjusting entry for the estimate of the uncollectible accounts O a. cannot be determined with the information given Ob. is $7,630 O c. is $700 Od. is $6,930

Allowance for Doubtful Accounts has a debit balance of $700 at the end of the year (before odjustment), and bad debt expense is estimated at 1% of credit sales. If credit soles are $763,000, the amount of the adjusting entry for the estimate of the uncollectible accounts a. eanoot be determined with the information given b. is 57,630 c., 153700 4. is $6,930