Marigold Corp. has outstanding accounts receivable totaling $6.29 million as of December 31 and sales on credit during the year of $33.9 million. There is also a debit balance of $12000 in the allowance for doubtful accounts. If the company estimates that 8% of its outstanding receivables will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense? O $515200. O $2712000. $503200. O $491200.

Marigold Corp. has outstanding accounts receivabie totaling $6.29 million as of December 31 and sales on credit during the year of $33.9 million. There is also a debit balance of $12000 in the allowance for doubtful accounts. If the company estimates that 8% of its outstanding receivables will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to recard bad debt expense? $515200. $2712000. $503200. $491200