Modem office has 2560110 of credit sales for the year and 43610 of outstanding account receivable and 715 balance of allowance for doubt FDA) on December 31 Modern Office estimates that either 0.1% of credit sales or 3% or outstanding account receivable will not be collectible and wants to set up an AFDA How much is bad debt expense for the year under the Percentage of Sales (Income Statement) Approach? ROUND ALL ANSWERS TO ZDECIMAL PLACES Answer How much is the bad debt expense for the year under the Percentage of Account Receivable (Balance sheet) Approach? ROUND ALL ANSWERS TO 2 DECIMAL PLACES