QUESTION 1 Accounts receivables at the end of the period are $240,000 and estimated uncollectible accounts are 5% of accounts receivables. If the balance of the Allowance for Doubtful Accounts has $2,000 credit balance before adjustment, what is the amount of bad debt expense to record adjusting entry for this period by using the percentage-of-receivables method? $2,000 $14,500 $10,000 $12,000