43) The Allowance for Bad Debts account has a credit balance of $2000 before the adjusting entry for bad debts expense. The company's management estimates that 2% of net credit sales will be uncollectible for the year 2019. Net credit sales for the year amounted to $260,000. What will be the balance of Allowance for Bad Debts on the December 31, 2019 balance sheet? A) $5200 C) $7200 E) None of the above B) $2000 D) $5160 44) The Allowance for Bad Debts account has a debit balance of $8000 before the adjusting entry for bad debts expense. After analyzing the accounts in the accounts receivable subsidiary ledger using the aging-of-receivables method, the company's management estimates that uncollectible accounts will be $15,000. What amount of bad debts expense will be reported on the income statement? A) $4000 C) $7000 E) None of the above B) $23,000 D) $15,000