Swifty Corporation has outstanding accounts receivable totaling $1.28 million as of December 31 and sales on credit during the year of $6.29 million. There is also a debit balance of $4900 in the allowance for doubtful accounts. If the company estimates that 3% of its accounts receivable will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense
