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Metlock Discount Wholesale Company has a $147700 balance in Accounts Receivable and a $530 debit balance in Allowance for Doubtful Accounts at year-end just

Metlock Discount Wholesale Company has a $147700 balance in Accounts Receivable and a $530 debit balance in Allowance for Doubtful Accounts at year-end just prior to recording adjusting entries. Credit sales for the period totaled $1064000. How much is the amount of the bad debt adjusting entry if Metlock estimates that 2.0% of its receivables will be uncollectible? $2954 $21280 $3484 $2424

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