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The general ledger controlling account for Accounts Receivable shows a debit balance of $50, 000. The Allowance for Uncollectible Accounts has a credit balance of

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The general ledger controlling account for Accounts Receivable shows a debit balance of $50, 000. The Allowance for Uncollectible Accounts has a credit balance of $2,000. Net sales for the year were $500, 000. In the past, 2 percent of sales has proved uncollectible. Using the percentage of net sales method, the Allowance for Uncollectible Accounts balance after adjustment would be $ 2,000. $ 8,000. $10, 000

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