At the beginning of 2019, Patriots, Inc. has the following account balances: Accounts Receivable $45,000 (Debit) Allowance for Bad Debts $7,000 (Credit) Bad Debts Expense S0 0,000. Cash collected on credit sales amounted to $770,000, and $16,000 has been written off At the end of the year, the -of-sales method and applied a rate, based on past history, of 3 5%. The amount of bad debts company adjusted for bad debts expense using the percent for 2019 is expense OA. $16,000 O B. S20.050 O C. $57,575 O D. $29,050