29. Charles company used the percent of sales method to determine its bad debts expense. At the end of the current year, the company's unadjusted trial balance reported the following selected amounts Accounts Receivable Allowance for doubtful Accounts Net Credit Sales Based on past experience, the company estimates 0.5% of credit sales to be uncollectible. What amount would be reported in the Balance Sheet under Accounts Receivable, net of doubtful accounts? A) $245,000 B) $244,700 C) $240,200 D) $240,500 E) $240,800 $245,000 debit $300 credit $900,000 30. Dennis Company's Allowance for Doubtful Accounts, showed a credit balance of $950 on January 1, 2004. During the year, the company wrote off S3,200 of uncollectible accounts, and reinstated $1,300 of previously written off accounts. The Dec 31, 2004 balance of Accounts Receivable is $97,500, and 6% of outstanding accounts receivable are assumed to be uncollectible. What will be the company's Bad Debts Expense for 2004? A) $4,900 B) $8,700 C) S5,850 D) $3,000 E) S6,800