assume simple company had credit sales of $259,000 and cost of goods sold of $159,000 for the period. simple uses the percentage of credit sales method and estimates that 2 percent of credit sales would result in uncollectible accounts. before the end-of-period adjustment is made, the allowance for doubtful accounts has a credit balance of $340. required: what amount of bad debt expense would the company record as an end-of-period adjustment?