QUESTION 22 Allowance for Doubtful Accounts has a debit balance of $2,500 at the end of the year before adjustment), and bad debt expense is estimated at 4% of credit sales. If net credit sales are $800,000, the amount of the adjusting entry to record the estimate of the uncollectible accounts a $29,500 b. 534,500 C. $32,000 d. cannot be determined