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Bonita Industries has outstanding accounts receivable totaling $1.26 million as of December 31 and sales...

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Accounting

Bonita Industries has outstanding accounts receivable totaling $1.26 million as of December 31 and sales on credit during the year of $6.41 million. There is also a debit balance of $6400 in the allowance for doubtful accounts. If the company estimates that 3% of its accounts receivable will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense?

A. $31400.

B. $44200.

C. $37608.

D. $37800.

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