Modem office has 3012740 of credit sales for the year and 51998 of outstanding account receivable and 2007 balance of Microwance for Godbitis accounHAFDA) on December 31 Modern Office estimates that either 0.1% of credit sales or 8% 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 2 DECIMAL PLACES