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Maine Corporations unadjusted trial balance includes the following balances (assume normal balances): Accounts Receivable $850,000 Allowance for Doubtful Accounts 18,000 Bad debts are estimated to

Maine Corporations unadjusted trial balance includes the following balances (assume normal balances):

Accounts Receivable $850,000

Allowance for Doubtful Accounts 18,000

Bad debts are estimated to be 5% of outstanding receivables. What amount of bad debt expense will the company record?

Select one: a. $41,600 b. $42,500 c. $24,500 d. $18,000

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