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Afirm uses the percentage of receivables method for estimating bad debts. Based on an aging schedule, the firm expects $50,000 of receivables to be uncollectible.

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Afirm uses the percentage of receivables method for estimating bad debts. Based on an aging schedule, the firm expects $50,000 of receivables to be uncollectible. If credit sales are $5,000,000 and the Allowance for Doubtful Accounts has a beginning balance of $5,000 before any adjustment, how much will the firm record as bad debts expense? O $5,000 $45.000 O $55,000 O $50,000

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