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Suppose Fine Chocolates Co. estimates bad debt under the percentage of sales method. Before adjusting entries at year end, the following accounts had these normal

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Suppose Fine Chocolates Co. estimates bad debt under the percentage of sales method. Before adjusting entries at year end, the following accounts had these normal balances: Accounts Receivable: $4,000 Allowance for Uncollectible Accounts: $500 Sales Revenue: $34,000 Management estimates uncollectible accounts to be 1% of sales. What amount is credited to Allowance for Uncollectible Accounts to adjust for bad debt

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