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Kite Pharmacy, Palo Alto, CA, a subsidiary of CVS has provided you with the following Information before any year-end adjustments: Net credit sales are 360,000.

Kite Pharmacy, Palo Alto, CA, a subsidiary of CVS has provided you with the following Information before any year-end adjustments: Net credit sales are 360,000. Historical percentage of credit losses is 3%. Allowance for doubtful accounts has a credit nalance of $3,000. Accounts receivables ending balance is $47,000.
What us the estimated bad debt expense using the percentage of credit sales method?

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