Verne's Violins uses the allowance method to account for uncollectible accounts. As of December 31, 2019, the company has a $5,000 balance in Accounts Receivable, and a $30 credit balance in Allowance for Bad Debts. The company made $20,000 of credit sales (sales on account) during the 2019 fiscal year. Based on past experience, the company's accountants estimate that 1% of credit sales will be uncollectible. They also estimate that 3% of current Accounts Receivable will be uncollectible. How much should the company record in bad debts expense for 2019 using the percent- of-sales method? $230 $200 $170 $150