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QUESTION 12 Libby Company uses the percentage of credit sales method for calculating Bad Debt Expense. The company reported $216,000 in total sales during

QUESTION 12 Libby Company uses the percentage of credit sales method for calculating Bad Debt Expense. The company reported $216,000 in total sales during the year $178.00 of which were on credit. Libby has experienced bad debt losses of 5% of credit sales in prior periods. What is the estimated amount of Bad Det Expense for the year? $10,800 $8,900 $38,000 $1,900 None of the above.

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