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 $ 300,000 1,200,000 1,500,000 7,500 3% What is the estimate of bad debt expense? Multiple Choice O O $37,500 $43,500 O $36,000 O $45,000 O