1. Fruit and Vegie Market Supplies Ltd. uses an allowance method. On 30 June, it was estimated that 2% of the years net credit sales revenue of $264 000 will not be collected, and an allowance for doubtful debts was established. On 3rd Nov, after a concerted effort to collect, an account receivable amounting to $2,500 from Cons Fruit Supplies was written off as a bad debt. What is the balance in the Bad Debts Recovered account?

   		5 280
   		2 500
   		2 780
   		7 780