A company has provided the following information prior to any year-end bad debt adjustment: - Cash sales, $150,000 - Credit sales, \$450,000 - Accounts receivable. $110,000 - Allowance tor 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? $4,240 $5.500 9,000 54,300 $6,700