At the end of the current year, accounts receivable has a balance of $

$7$

$0$

$0$

$,$

$0$

$0$

$0$

; allowance for doubtful accounts has a credit balance of $

$5$

$,$

$5$

$0$

$0$

; and sales for the year total $

$3$

$,$

$5$

$0$

$0$

$,$

$0$

$0$

$.$

$$Bad debit expense is estimated at

$1$

$/$

$2$

$$of

$1$

$\%$

$$of sales.At the end of the current year, accounts receivable has a balance of $

$7$

$0$

$0$

$,$

$0$

$0$

$0$

; allowance for doubtful accounts has a credit balance of $

$5$

$,$

$5$

$0$

$0$

; and sales for the year total $

$3$

$,$

$5$

$0$

$0$

$,$

$0$

$0$

$.$

$$Bad debit expense is estimated at

$1$

$/$

$2$

$$of

$1$

$\%$

$$of sales.

$*$

$*$

$*$

Wrong answers will get $10$ dislikes. Need a Genuine and correct answer. Do not copy$$from$$others$.$