O d. $6,900 (10 Points) At the beginning of 2017, Elixir, Inc. has the following account balances ered of Accounts Receivable $40,000(debit balance) Allowance for Bad Debts $6000 (credit balance) Bad Debts Expense $0 stion During the year, credit sales amounted to $850,000. Cash collected on credit sales amounted to $760,000, and $16,000 has been written off. At the end of the year, the company adjusted for bad debts expense using the percent-of-sales method and applied a rate, based on past history, of 2.5%. The ending balance in the Allowance for Bad Debts is Select one: O a. $11,250 O b. $6,000 O c. $5,250 O d. $9,000 (11 Points) The fallewing information is available for Jade Company for the month ending June 30, 2017