A company has provided the following infermation prior to any year end bad debt adjustment: - Cash sales, $150,000 - Credit sales, $450,000 - Accounts receivable, $110,000 - Allowance for doubtful accounts credit balance, $1,200 Freeman prepares an aging of accounts receivable and the result shows that 5% of accounts receivable is estimated to be uncollectible. How much is bad debt expense? 54,240 $5.500 9,000 54.300 56,700