Milford Company uses the$$ percent$-$of$-$sales method to estimate uncollectibles. Net credit sales for the current year amount to $$140,000,$ and management estimates $2\%$ will be uncollectible. The amount of expense to report on the income statement was $$2,800.$ The Allowance for Uncollectible Accounts prior to adjustment has a credit balance of $$3,000.$ The balance of Allowance for Uncollectible$$ Accounts, after$$ adjustment, will be

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Part $1$

A$.$$$5,200.$

B$.$$$5,800.$

C$.$$$1,500.$

D$.$$$2,800.$