5) You are using the Percentage of Sales Method to calculate and record Bad Debt Expense, you estimate 1% of your sales will eventually not be able to be collected, all sales are on account. You have the following formation: Sales for the year - $987,000 January 1st, Beginning balance of Accounts Receivable - $114,000 December 31st, Ending balance of Accounts Receivable - $110,000 January 1st, Beginning balance of Allowance for Doubtful Accounts =$5,450 December 31st, Ending balance of Allowance for Doubtful Accounts - $6,130 What amount will you show as Bad Debt Expense for the year