Creek Co. uses the percentage of credit sales method in determining its bad debt expense. The following information comes from the accounting records of Creek Co.: Cash sales Credit sales Total sales Credit balance in the Allowance for Doubtful Accounts Bad debt loss rate What is the estimate of bad debt expense? Multiple Choice $36,000 $43,500 $45,000 $37,500 $ 300,000 1,200,000 1,500,000 7,500 3%