At year-end, the following balances appeared on the ledger of a company prior to adjusting and closing it books. Accounts receivable $110,500 Notes receivable 6,500 Allowance for doubtful accounts (credit) 520 Sales revenue Sales returns and allowances 400,400(12 on credit) 10,400(1/2 on credit) Advances to company officers 19,500 All receivables arose out of sales transactions except the advances to officers. The company's president estimated that 2 percent of outstanding customer receivables would not be collected. The controller believed that three-quarters of one percent of net credit sales would result in bad debts. 5 Required: How much should be debited to bad debt expense if: (a) The president's estimate prevails? $ (b) The controller's view is accepted? $