1. Bramble Corp. has outstanding accounts receivable totaling $1.25 million as of December 31 and sales on credit during the year of $6.49 million. There is also a debit balance of $5500 in the allowance for doubtful accounts. If the company estimates that 2% of its accounts receivable will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense?

$30500

$19500.

$24890.

$25000.