The following selected amounts are reported on the year-end unadjusted trial balance report for a company that uses the percent of sales method to determine its bad debts expense. Accounts receivable Allowance for Doubtful Accounts Net Sales $ 428,000 Debit 1,420 Debit 2,270,000 Credit 10:14 All sales are made on credit. Based on past experience, the company estimates 3.0% of credit sales to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense? Multiple Choice Debit Bad Debts Expense $12,840; credit Allowance for Doubtful Accounts $12.840. Debit Bad Debts Expense $66,680, credit Allowance for Doubtful Accounts $66,680 Debit Bad Debts Expense $14,260, credit Allowance for Doubtful Accounts $14,260 Debit Bad Debts Expense $69,520, credit Allowance for Doubtful Accounts $69,520 Vic Grau