Migual Company uses the percent-of-sales method to estimate uncollectibles. Net credit sales for the current year amount to $110,000, and management estimates 5% will be uncollectible. Migual Company's balance of Allowance for Uncollectible Accounts after adjustments, was $5,200. The following year, Migual Company wrote off $2.200 of old receivables as uncollectible. What is the balance in the Allowance account now? The balance in the Allowance account is now 8500