K During the year, Taylor Company had net credit sales of $47,000. At the end of the year, before adjusting entries, the balance in Accounts Receivable was $14,000 (debit) and the balance in Allowance for Bad Debts was $610 (credit). If the company uses an income statement approach to estimate bad debts at 7%, what is the ending balance in the Allowance for Bad Debts account? OA. $3,900 OB. $3,290 O c. $2,680 OD. $1,590