Question 1 10 pts On January 1, 2019 Your Company had a $4,000 balance in the Accounts Receivable account and a zero balance in the Allowance for Doubtful Accounts account. During the year, Your Company provided $25,000 of service on account. The company collected $24,000 cash from account receivable. Bad debts are estimated to be 2% of sales on account. How much bad debts expense will be recognize on the 2019 income statement? $80. $250. $480. $500