As the accountant for Pure-Air Distributing, you attend a sales mangers' meeting devoted to a discussion of credit policies. At the meeting, you report that bad debt expense is estimated to be $59,000 and accounts receivable at the year-end amount to $1,750,000 less $43,000 allowance for doubtful accounts Ima Smith, a sales manager expresses confusion over why bad debt expense and the allowance for doubtful accounts are different amounts. Write a memo to her explaining why a difference in bad debt expense and the allowance for doubtful accounts is not unusual. The company estimates bad debt expense as 2% of sales