X Company has the following accounting balances at the end of the year before adjustments Accounts receivable S50000 (1,000) Allowance for uncollectible accounts Net sales 100.000 Had debts expense The company estimates that 2% of net sales will be uncollectible. After the correct adjusting entry has been made, which of the following is correct about Bad debts expense f the year and Allowance for uncollectible accounts at the end of the year? O A Bad debts expense will be S2,000 on the income statement and Allowance for uncollectible accounts will be S(3,000) on the balance sheet. O B Bad debts expense will be $1,000 on the income statement and Allowance for uncollectible accounts will be $(2,000) on the balance sheet Bad debls expense will be $3,000 on the balance sheet and Allowance for uncollectible accounts will be S(3,000) on the income statement O C O D Bad debts expense will be S3,000 on the income statement and Allowance tor uncollectible accounts will be S(2,000) on the balance sheet