Chapter 8 Homework Note: All homework assignments must be submitted through the Blackboard course site. Chapter 8 Question 3 (0.5 point) At the end of the current year, the accounts receivable account has a debit balance of $1,400,000; and sales for the year total $15,350,000. The allowance account before adjustment has a debit balance of $23,000. 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