Assume the Following Unadjusted Account Balances at the End of the Accounting

Assume the following unadjusted account balances at the end of the accounting period for Cottle Company: Accounts Receivable, $30,000; Allowances for Doubtful Accounts, $800 (debit balance) ; Net sales, $240,000.
If Cottle Company's past experience indicates credit losses of 2% of net sales, the adjusting entry to estimate uncollectible accounts is:

A) Bad Debts Expense 4,800
$\quad$ $\quad$ $\quad$ $\quad$ Allowance for Doubtful Accounts 4,800
B) Bad Debts Expense 5,600
$\quad$ $\quad$ $\quad$ $\quad$ Allowance for Doubtful Accounts 5,600
C) Bad Debts Expense 4,000
$\quad$ $\quad$ $\quad$ $\quad$ Allowance for Doubtful Accounts 4,000
D) Bad Debts Expense 4,700
$\quad$ $\quad$ $\quad$ $\quad$ Accounts Receivable 4,700