Jon L. Smith Company started the year with a credit balance of $50,000 in its Allowance for Doubtful Accounts account. During the year, they wrote off $48,500 of accounts receivable. On December 12th, an account for $500 that was previosly written off was unexpectely collected. At year end, Jon L. Smith had Sales of $15,000,000 and had a balance in Accounts Receivables of $1,200,000. What would be the ending balance in the Allowance for Doubtfull Account account after the year-end adjusting entry of Jon L. Smith estimated Its uncollectible accounts to be 5% of accounts receivable? Multiple Choice $2.000 $58.000 $60,000 $62,000