at the start of the year, a companys allowance for doubtful accounts had a credit balance of $36,000. during the year, it had credit sales of $1,500,000. it also wrote-off $45,000 of uncollectible accounts receivable during the year. past experience indicates that the allowance should be 5% of the balance in receivables. if the accounts receivable balance at december 31 was $400,000 , what is the bad debt expense for the year?

answer choices:

9,000

75,000

65,000

29,000

20,000

will upvote, thank you!