Assume that Sheridan Company decides to estimate its uncollectible accounts using the allowance method and estimates its bad debt expense at 2.85% of credit sales. What amount of bad debt expense will Sheridan Company record if Allowance for Doubtful Accounts had an opening balance of $18,600 on January 1 2021? Bad debt expense Assume the same facts as in part (al except that the Alowance for Doubtful Accounts had a $12,100 balance on January 1,2021 What amount of bad debt expense will Sheridan record on December 31. 20212 Bad debt expense Information on Sheridan Company for 2021 follows: Total credit sales $920,000 Accounts receivable at December 31 36,800 Uncollectible accounts written off 16,400 Amount collected on accounts previously written off (after write off but before year end) 2,400