Classic Auto Parts sells new and used auto parts. Although a majority of its sales are cash sales, it makes a significant amount of credit sales. During 2008, its first year of operations, Classic Auto Parts experienced the following: Sales on Account $266,800 $266, Cash Sales 619,000 Collections of Accounts Receivable 253,460 Uncollectible accounts charged off during the year 1,394 Assume that Classic Auto Parts uses the allowance method of accounting for bad debts and estimates that 1 percent of its sales on account will not be collected. What is the ending balance of Allowance for Doubtful Accounts at December 31, 2008, after all entries and adjusting entries are posted? Multiple Choice 2.668 Multiple Choice 2668 1,394 I 1.274 4.062