Flyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $168,000 Credit sales, $468,000 Selling and administrative expenses, $128,000 Sales returns and allowances, $48,000 Gross profit, $508,000 Accounts receivable, $285,000 Sales discounts, $32,000 Allowance for doubtful accounts credit balance, $3,000 Flyer prepares an aging of accounts receivable and the result shows that 3% of accounts receivable is estimated to be uncollectible. What is the balance in the allowance for doubtful accounts after bad debt expense is recorded?

$8,550

$5,550

$5,460

$11,550