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 Allowance for Uncollectible Accounts prior to adjustment has a credit balance of $3,000. The amount of expense to report on the income statement will be A. $1,500 O B. $2,800 O C. $8,400 O D. $5,800