abbott company uses the allowance method of accounting for uncollectible receivables. abbott estimates that 4% of credit sales will be uncollectible. on january 1, allowance for doubtful accounts had a credit balance of $3,300. during the year, abbott wrote off accounts receivable totaling $2,500 and made credit sales of $116,000. after the adjusting entry, the december 31 balance in bad debt expense will be