O pts Question 7 Chi Corp, has outstanding accounts receivable totaling $10,000,000 as of December 31 and sales on credit during the year of $50,000,000. There is also a debit balance of $100,000 in the allowance for doubtful accounts. If the company estimates that 10% of its outstanding receivables will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense? $1,000,000 $5,000,000 $1,100,000 $900.000