ABC Company has the following balances at the end of $2020$:Accounts Receivable $$105,000($Dr$.)$Sales Revenue $$110,000($Cr$.)$Allowance for Doubtful Accounts $$5,000($Dr$.)$ABC estimates bad debts to be $10\%$ of receivables. Prepare the entry necessary to adjust Allowance for Doubtful Accounts.Select one:a$.$Bad Debt Expense $15500$ Allowance for Doubtful Accounts$15500$ b$.$Bad Debt Expense$11000$Allowance for Doubtful Accounts$11000$ c$.$Bad Debt Expense$5500$Allowance for Doubtful Accounts$5500$ d$.$Bad Debt Expense$10500$Allowance for Doubtful Accounts$10500$