Pina Corp. has outstanding accounts receivable totaling $7 million as of December 31 and sales on credit during the year of $23 million. There is a debit balance of $28000 in the allowance for doubtful accounts. If the company estimates that 8% 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? $1840000. $532000. $588000. $560000. eTextbook and Media