Hello, I need help to solve step by step. I know the answer on the below, so please help me to understand it. Thank you! Testbank Multiple Choice Question 99 Vaughn Manufacturing has outstanding accounts receivable totaling $5.86 million as of December 31 and sales on credit during the year of $33.4 million. There is also a debit balance of $13000 in the allowance for doubtful accounts. If the company estimates that 9% of its outstanding receivables will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense? Correct answer:$527400