Vine Company Began Operations on January 1,2013 $\$ 1,348,300$

Multiple Choice

Vine Company began operations on January 1,2013.During its first year,the company completed a number of transactions involving sales on credit,accounts receivable collections,and bad debts.These transactions are summarized as follows:
a. Sold $\$ 1,348,300$ of merchandise (that had cost $\$ 983,600$ ) on credit, terms $n / 30$ .
b. Wrote off $\$ 19,400$ of uncollectible accounts receivable.
c. Received $\$ 666,100$ cash in payment of accounts receivable.
d. In adjusting the accounts on December 31 , the company estimated that $2.90 \%$ of accounts receivable will be uncollectible
What is the amount required for the adjusting journal entry to record bad debt expense?

A) $18,644.90
B) $38,621.20
C) $19,783.80
D) $19,221.20
E) $19,400.20