Libby Company uses the percentage of credit sales method for calculating Bad Debt Expense. The company reported $223,500 in total sales during the year; $183,000 of which were on credit. Libby has experienced bad debt losses of 5% of credit sales in prior periods. What is the estimated amount of Bad Debt Expense for the year? Multiple Choice $9,150 O $11,175 O $9,000 O O $40,500