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Use the following information for the next TWO questions. On December 31, 2019, Gibbert Company's unadjusted trial balance reported the following: Accounts Receivable: $56,000 debit

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Use the following information for the next TWO questions. On December 31, 2019, Gibbert Company's unadjusted trial balance reported the following: Accounts Receivable: $56,000 debit Allowance for Doubtful Accounts: $2,000 credit Credit Sales: $800,000 credit Gibbert estimates that 1.1% of credit sales will be uncollectible. Question 1 of 2: The 2019 income statement would report: Bad Debt Expense, $6,800. Bad Debt Expense, $8,800. Allowance for Doubtful Accounts, $6,800. Allowance for Doubtful Accounts, $8,800

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