[The following information applies to the questions displayed below.] On average, 3% of credit sales has been uncollectible in the past. At the end of the year, the balance of accounts receivable is $290,000 and the allowance for doubtful accounts has an unadjusted credit balance of $1,450. Net credit sales during the year were $340,000 Using the percentage of credit sales method, the estimated bad debt expense would be: O $8,750 O $8,700 O $11,650 O $10,200