Question 2 (2 points) Using the Percent of Sales method, calculate the amount of the Debit to Bad Debt Expense in the adjusting entry, given the following: Annual sales $3,500,000, (Sales on account $2,860,005, Cash sales $640,000) Balance of the Allowance for Doubtful Accounts $12,250 Industry standard percentage for uncollectible accounts is determined to be: %% $12,250 $21,450 $26,250 $9,200