QUESTION 30 Abbott Company uses the allowance method of accounting for collectible receivables. Abbott estimates that 3% of credit sales will be uncollectible. On January 1, Allowance for Doubtful Accounts had a credit balance of $2,400. During the year, Abbott wrote off accounts receivable totaling $1,800 and made credit sales of $100,000 There were no sales returns during the year. After the adjusting entry, the December 31 balance in Bad Debt Expense will be O a $3,000 Ob. $1,200 O $3,600 O d. 57,200