Brief Exercise 5-47 Percentage of Credit Sales Method fuby Red manufactures, markets, and distributes citrus flavored soft drinks across the giobe, Ruby Red hired a collection agency in 2018 to increase collection. rates from customers. As a result, Ruby estimates that only 2% of its 2019 credit sales will be witten off, compared to the 4% of 201875 credit sales that were estimated to be uncolectible. At December 31,2019 , Ruby Red has a $12,800 credit balance in its allowance for doubtul accounts and credit sales of $1,570,000. Required: Use the percentage of credit sales method to calculate the bad debt expense