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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

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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. Milford Company's balance of Allowance for Uncollectible Accounts after adjustments, was $5,800. The following year, Milford Company wrote off $2,800 of old receivables as uncollectible. What is the balance in the Allowance account now? The balance in the Allowance account is now $

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