plasma Inc uses the percent of credit of sales method to estimate bad debt expense the company reported net credit sales of $600000 during the year plasma had experienced bad debt losses of 2% of credit sales in prior periods. at the beginning of the year plasma had a credit balance in its allowance for doubtful account of $5000 No write offs or recoveries were recorded during the year what amount of bad debt expense should plasma recognize for the year. a. 7000 b. 5000 c. 17000 d. 12000