Chapter 8 Homework Note: All homework assignments must be submitted through the Blackboard course site. Chapter 8 Question 2: (1 point) At the end of the current year, Accounts Receivable has a balance of $1,975,000. Allowance for Doubtful Accounts has a credit balance of $19,670; and sales for the year total $28,550,000. Bad debt expense is estimated at % % of sales. Required: What is the amount of bad debt expense that will be recorded as part of the adjusting entry? Omit $ signs