Question 22 Not yet answered Marked out of 1.00 P Flag question Satin Bows Company uses the percentage of credit sales approach to estimate its expected credit losses. It estimates its losses at 1 percent of credit sales, which were $415,300 during the year. The Accounts Receivable balance was $12,500 and the Allowance for Uncollectible Accounts had an existing negative balance of $500 at year-end. (.e., the bad debt expense had been under estimated in the prior period). What is the bad debt expense for the year? Select one: O a. $4,153 b. $1,625 C. $3,775 O d. $3,275