Hello, my answer is incorrect but selected below. I would like to know why. So far, my process has been $150,000 * 0.03 = 4,500. Dr 683 - Cr 4,500 = Cr 3,817.

Please explain your thought process and include your final answer as I hope I had a simple mistake. Thanks.

This Question: 2 pts 22 of 25 (21 complete) Wolfe, Inc. had credit sales for the period of $150,000. The balance in Allowance for Doubtful Accounts is a debit of $683. If Wolfe estimates that 3% of credit sales will be uncollectible, what is the required journal entry to record estimated uncollectible accounts? O A. Debit Bad Debt Expense, $5,183, credit Allowance for Uncollectible Accounts, $5,183. O B. No entry is required. O C. Debit Bad Debt Expense, $4,500, credit Allowance for Uncollectible Accounts, $4,500. OD. Debit Bad Debt Expense, $3,817, credit Allowance for Uncollectible Accounts, $3,817