Net credit sales for the current year amount toWang Corporation uses the percent-of-sales method to estimate uncollectibles. Net credit sales for the current year amount to $8,000,000, and management estimates 3% will be uncollectible. The Allowance for Uncollectible Accounts prior to adjustment has a credit balance of $50,000. The amount of Uncollectible-Account Expense reported on the income statement will be