Sheffield Corp. has outstanding accounts receivable totaling $ 6.36 million as of December 31 and sales on credit during the year of 25.2 million. There is also a debit balance of $ 11500 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? O $508800 $ 2016000 $520300 $ 497300