Allen Company uses the percent-of-sales method for estimating bad debts expense. The company's bad debt expense is normally 5% of net credit sales which were $300,000 for the year. During the year $500 was written off. If the Allowance for Bad Debts account had a beginning credit balance of $1,000, what is the balance at the end of the year? OA. $16,500 OB. $16,000 OC. $15,000 OD. $15,500